In this Part of this Schedule “the appropriate UK regulator” means—
(a) where the UK firm is a PRA-authorised person, the PRA;
(b) in any other case, the FCA.]
(1) [Subject to [sub-paragraphs (5ZA) [, (5ZB)]][, (5A) and (7BC)],] a UK firm may not exercise an EEA right to establish a branch unless three conditions are satisfied.
(2) The first is that the firm has given the [appropriate UK regulator], in the specified way, notice of its intention to establish a branch (“a notice of intention”) which—
(a) identifies the activities which it seeks to carry on through the branch; and
(b) includes such other information as may be specified.
(3) [Subject to sub-paragraph (5B), the] activities identified in a notice of intention may include activities which are not regulated activities.
[(4) The second is that—
(a) the [appropriate UK regulator] has given notice in specified terms (“a consent notice”) to the host state regulator; and
(b) where the firm is a management company which wishes to pursue the activity of collective portfolio management referred to in Annex II to the UCITS directive, the [appropriate UK regulator] has provided to the host state regulator—
(i) confirmation that the firm has been authorised as a management company pursuant to the provisions of the UCITS directive;
(ii) a description of the scope of the management company's authorisation; and
(iii) details of any restriction on the types of UCITS that the management company is authorised to manage.]
[(5) The third is—
(a) if the EEA right in question derives
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