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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

state monopoly

    30a company or other legal person which is a national of a state180 and which:

      1. (a) in carrying on its business benefits from a monopoly right granted by a state180; and
      1. (b) is set up by or pursuant to a special law or whose borrowings are unconditionally and irrevocably guaranteed by a state180 or one of a state’s federated states180.