Sch 4 para 3
(1) Paragraph 14 (services) is amended as follows. (2) In sub-paragraph (1), for “Authority”, in each place, substitute “ appropriate UK regulator ” . (3) After sub-paragraph (1) insert— (1A) Relevant notice” means— (a) a regulator's notice, or (b) where none is required by sub-paragraph (1), a notice informing the appropriate UK regulator of the firm's intention to provide services in the United Kingdom. (1B) Where the PRA receives a relevant notice, it must give a copy to the FCA without delay. (1C) Where the FCA receives a relevant notice, it must in prescribed cases give a copy to the PRA without delay. (1D) If the FCA— (a) receives a relevant notice, or (b) receives under sub-paragraph (1B) a copy of a relevant notice, it must prepare for the firm's supervision. (1E) If the PRA— (a) receives a relevant notice, or (b) receives under sub-paragraph (1C) a copy of a relevant notice which identifies PRA-regulated activities or relates to a PRA-authorised person, it must, unless the firm falls within paragraph 5(e), prepare for the firm's supervision. (4) For sub-paragraph (2) substitute— (2) If the appropriate UK regulator has received a relevant notice, it must, unless the firm falls within paragraph 5(a) or (e), notify the firm of the applicable provisions (if any). (5) Omit sub-paragraph (2A). (6) In sub-paragraph (3)— (a) for “(2)(b)” substitute “ (2) ” , and (b) for the words from “Authority” to the end substitute “ appropriate UK regulator received the relevant notice ” . (7) In sub-paragraph (4), after the definition of “applicable provisions” insert— “ the appropriate UK regulator ” means whichever of the FCA and the PRA is the competent authority for the purposes of the relevant single market directive;