Schedule 6, Part 4, paragraph 26

The appropriate UK regulator may not reject a notification unless— it is required to do so under sub-paragraph (3) or (4), or it has power to do under sub-paragraph (5). A notification is rejected when the appropriate UK regulator gives a written notice of the rejection to the Gibraltar regulator. The appropriate UK regulator must reject a notification if satisfied that the notification does not satisfy one or more of the requirements in paragraph 24(1). The appropriate UK regulator must reject a notification if it would be required to do so by paragraph 18(2) or (3) if the notification were a notification under Part 3 of this Schedule relating to— the Gibraltar-based person, and the activities that the person would have a Schedule 2A permission to carry on if the permission were varied as specified in the notification. The appropriate UK regulator may reject a notification if it would have power to do so under paragraph 19 or 20 if the notification were a notification under Part 3 of this Schedule relating to— the Gibraltar-based person, and the activities that the person would have a Schedule 2A permission to carry on if the permission were varied as specified in the notification. The rejection of a notification does not prevent the Gibraltar regulator from giving a further notification.

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