418 Carrying on regulated activities in the United Kingdom
418 Carrying on regulated activities in the United Kingdom

(1)     In the [six] [seven] cases [In the cases] described in this section, a person who—

(a)     is carrying on a regulated activity, but

(b)     would not otherwise be regarded as carrying it on in the United Kingdom,

is, for the purposes of this Act, to be regarded as carrying it on in the United Kingdom.

(2)     The first case is where—

(a)     his registered office (or if he does not have a registered office his head office) is in the United Kingdom;

(b)     he is entitled to exercise rights under a single market directive as a UK firm; and

(c)     he is carrying on in another EEA State a regulated activity to which that directive applies.

(3)     The second case is where—

(a)     his registered office (or if he does not have a registered office his head office) is in the United Kingdom;

(b)     he is the manager of a scheme which is entitled to enjoy the rights conferred by an instrument which is a relevant [EU] instrument for the purposes of section 264; and

(c)     persons in another

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