[39A Certain tied agents operating outside United Kingdom]
[39A Certain tied agents operating outside United Kingdom]

[(1)     This section applies to an authorised person whose relevant office is in the United Kingdom if—

(a)     he is a party to a contract with a person (other than an authorised person) who is established—

(i)     in the United Kingdom, or

(ii)     in an EEA State which does not permit investment firms authorised by the competent authority of the State to appoint tied agents; and

(b)     the contract is a relevant contract.

(2)     A contract is a “relevant contract” if it satisfies conditions A to C

(3)     Condition A is that the contract permits or requires the person mentioned in subsection (1)(a) (the “agent”) to carry on investment services business.

(4)     Condition B is that either—

(a)     it is a condition of the contract that such business may only be carried on by the agent in an EEA State other than the United Kingdom; or