C1PART 5Amendments to other secondary legislation
C1The Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013I1C1189
1
Article 3 of the Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013 M1 (dealing in investments as principal: designation by the PRA) is amended as follows.
2
In paragraph (2) M2—
a
at the end of sub-paragraph (a) insert “
or
”
;
b
omit sub-paragraph (c) and the preceding “or”.
3
In paragraph (3) M3—
a
for sub-paragraph (a) M4 substitute—
a
is an investment firm that is required to have initial capital of 730,000 euro or would be required to do so if it had a Part 4A permission;
b
for sub-paragraph (c) substitute—
c
is established in a country other than the United Kingdom but would meet the requirement specified in sub-paragraph (a) if P were established in the United Kingdom and had obtained the necessary authorisation in the United Kingdom for its business.
Pts. 3-6 modified in part (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)