Sch 2A para 41
(1) This paragraph applies where a UK regulator has received— (a) a notification for the purposes of paragraph 12 in respect of the carrying on of an activity by a Gibraltar-based person, or (b) a notification for the purposes of paragraph 22 in respect of the variation of a Gibraltar-based person's Schedule 2A permission. (2) A UK regulator may exercise the powers under this paragraph where it considers that it is desirable to do so in order to advance one or more of its objectives. (3) The FCA may impose requirements on the Gibraltar-based person. (4) The PRA may impose requirements on the Gibraltar-based person if— (a) the notification mentioned in sub-paragraph (1) relates to activities which consist of or include PRA-regulated activities, or (b) the Gibraltar-based person is a PRA-authorised person. (5) A requirement may not be imposed under this paragraph— (a) after the end of the period for considering the notification mentioned in sub-paragraph (1), or (b) so as to take effect before the end of that period. (6) In the case of the FCA, the reference in this paragraph to its objectives is a reference only to its operational objectives.