Citation, commencement and extent

1.—(1) These Regulations may be cited as the Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2024.

(2) These Regulations come into force on 16th December 2024.

(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.

Amendment of the Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019

2.  In regulation 12 of the Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (expiry of Parts 2 and 3)( 2), in paragraph (1), for “2024” substitute “2025”.

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations are made in exercise of the power conferred by regulation 12(2) of the Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 ( S.I. 2019/589). They extend by 12 months the transitional arrangements under Parts 2 and 3 of those Regulations which enable specified categories of Gibraltar-based firms to provide financial services in the United Kingdom and facilitate the access by similar types of UK-based firms to Gibraltar’s financial services market.

A full impact assessment has not been produced for these Regulations as no, or no significant, impact on the private, voluntary or public sector is foreseen. A de minimis impact assessment of the effect of these Regulations is available from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ and is published alongside these Regulations onwww.legislation.gov.uk