The Financial Services and Markets Act 2000 (Gibraltar) (Amendment) Order 2006

• Citation: S.I. 2006/1805
• Sections: 2

Section 1 Citation and commencement

This Order may be cited as the Financial Services and Markets Act 2000 (Gibraltar) (Amendment) Order 2006, and comes into force on 31st July 2006.

Section 2 Amendment of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001

(1) Article 2 of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001 is amended as follows.

(2) After paragraph (1) insert—

(1A) A Gibraltar-based firm falling within paragraph 5(a) of Schedule 3 is to be treated as having an entitlement, corresponding to its EEA right deriving from the investment services directive, to establish a branch or provide services in the United Kingdom.

(3) In paragraph (2) omit “so far as relating (only) to activities falling within items 1 to 6 in Annex 1 to that directive”.

(4) In paragraph (4)—

(a) before “(2), (3) and (3A)” insert “(1A),”; and

(b) for “5(b),” substitute “5(a), (b),”.

(5) In paragraphs (5) and (7) before “(2), (3) or (3A)”, wherever occurring, insert “(1A),”.