Schedule 8, paragraph 7

In section 213 (the compensation scheme), after subsection (9) insert— But a person is not to be regarded as a relevant person in relation to a regulated activity if, at that time, the person— was a Gibraltar-based person with a Schedule 2A permission to carry on the activity, and fell within a prescribed category, either generally or in relation to the activity. Regulations prescribing a category of person for the purposes of subsection (10A) may, among other things, make provision by reference to— whether the activity is carried on through a branch in the United Kingdom; the level of protection provided by the compensation scheme and by any comparable scheme operating in Gibraltar.

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