Schedule 2, Part 1, paragraph 6

In section 55R (persons connected with an applicant) , after subsection (3) insert— Subsection (5) applies where— a credit institution (“B”) makes an application for permission under section 55A; and B is controlled by a person who also controls a credit institution, insurance undertaking or investment firm authorised in another EEA State. Before granting B's application for permission, the regulator concerned must consult the competent authorities of the other EEA State. In subsections (4) and (5), “credit institution”, “insurance undertaking” and “investment firm” have the meaning given in Article 4(1) of the capital requirements regulation.

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