Schedule 2A, Part 3, paragraph 20(2)

The appropriate UK regulator may reject a notification if satisfied that— the Gibraltar-based person— is a member of the same group as a person that lost a relevant access right at any time, or has close links with such a person (as defined in paragraph 2C(2) of Schedule 6), and given the nature of the relationship between that person and the Gibraltar-based person, the Gibraltar-based person poses, or is likely to pose, a serious threat to— the interests of consumers (as defined in section 1G), or the soundness, stability and resilience of the UK financial system or a part of that system.

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Source: legislation.gov.uk · retrieved 2026-09-04