# The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2025, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations extend transitional provisions provided for in Regulation (EU) 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (the “Capital Requirements Regulation”) and the Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018 (the “CCP Regulations”) as extended by: i) the Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2022; ii) the Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2023; and iii) the Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2024.
These Regulations extend the transitional provisions in relation to central counterparties which are established outside of the United Kingdom.
Regulation 2 provides that the transitional period provided for in Article 497(1)(b)(ii) of the Capital Requirements Regulation is extended by 12 months. Article 497(1)(b)(ii) sets out this transitional period for overseas central counterparties which have applied to be recognised by the Bank of England after 27 June 2019. Accordingly, the transitional period will expire 6 years following the date on which an application for recognition was made by an overseas central counterparty.
Regulation 3 amends regulation 18(1) of the CCP Regulations, which provides the temporary recognition period for overseas central counterparties within the temporary recognition regime established by those Regulations. It extends this temporary recognition period by 12 months. Accordingly, the temporary recognition period shall expire on 31 December 2027.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen. A de minimis impact assessment is available from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ and is published with the Explanatory Memorandum alongside this instrument at www.legislation.gov.uk

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Source: https://www.legislation.gov.uk/uksi/2025/1030/note (the official version)
Page: https://openlegislation.uk/central-counterparties-transitional-provision-extension-and-amendment-regulations-2025/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.