Regulation 3 Amendment of the Central Securities Depositories Regulations 2017I1

(1)

The Central Securities Depositories Regulations 2017 M1 are amended as follows.

(2)

In regulation 7—

(a)

in paragraph (2)(a), for “directly applicable EU regulation” substitute “ retained EU law ”;

(b)

in paragraph (5)(b), for “directly applicable EU regulation” substitute “ retained EU law ”.

(3)

In regulation 8—

(a)

omit paragraph (2);

(b)

in paragraph (3)—

(i)

for “an EEA State” substitute “ the United Kingdom ”;

(ii)

for “69(3)” substitute “ 69(1) ” each time it occurs;

(c)

in paragraph (5), at the end, insert “ or which immediately before F1IP completion day was authorised under Article 16 of the CSD regulation ”.

Annotations

F1: Words in reg. 3(3)(c) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 8(a)

I1: Reg. 3 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)