Sch 2A para 22
(1) If the appropriate UK regulator receives a notification from the Gibraltar regulator requesting the variation of a Gibraltar-based person's Schedule 2A permission (see paragraph 24), the permission is varied— (a) if the notification specifies a time for the variation to take effect which falls after the end of the period for considering the notification as it relates to the variation (see paragraph 25), at that time, or (b) otherwise, at the end of the period for considering the notification, as it relates to the variation. (2) A variation requested in a notification does not take effect under sub-paragraph (1) if, during the period for considering the notification— (a) the appropriate UK regulator rejects the notification, as it relates to the variation (see paragraph 26), or (b) the Gibraltar regulator withdraws the notification, as it relates to the variation. (3) References in this Part of this Schedule to a notification are references to a notification for the purposes of this paragraph.