pre-IP completion day incoming EEA firm

196(in COMP) an EEA firm, or Treaty firm, that, before IP completion day, exercised its right to carry on a regulated activity in the United Kingdom, and qualified for authorisation, within the meaning of, and in accordance with, respectively, section 193(1)(a) and Schedule 3 of the Act (EEA Passport Rights), or section 193(1)(b) and Schedule 4 of the Act (Treaty Rights), as from time to time in force before IP completion day.