Textual Amendments
F1Sch. 2A inserted (1.9.2023 for specified purposes) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 6 (as amended (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 100(3)(b)); S.I. 2023/934, reg. 2(a)
47(1)Where the appropriate UK regulator receives a notification, it must acknowledge receipt in writing without delay.U.K.
(2)The period for considering a notification is—
(a)so far as it relates to a requirement to be imposed on a Gibraltar-based person with a branch in the United Kingdom, the period of two months beginning with the day on which the appropriate UK regulator receives the notification, and
(b)so far as it relates to any other requirement, the period of one month beginning with that day.
(3)If, before the end of the period described in sub-paragraph (2), the appropriate UK regulator gives the Gibraltar-based person a confirmation notice in respect of a requirement specified in the notification, then the period for considering the notification as it relates to the requirement ends when the notice is given.
(4)A “confirmation notice” is a written notice confirming that the requirement is imposed, varied or cancelled as requested in the notification.]