Regulation 31 Period during which regulation 28 is to applyI1

United Kingdom

(1)

For the purposes of regulation 29(b), the period is one that begins with F1IP completion day and ends with a day determined in accordance with paragraph (2).

(2)

The period ends—

(a)

after three years beginning with the day on which IP completion day occurs, or

(b)

if earlier, with the day—

(i)

before the day on which registration as a credit rating agency has effect;

(ii)

on which the FCA determines, in accordance with regulation 32(1), that regulation 28 should cease to apply, or

(iii)

on which the person ceases to be included within a group of undertakings which comprise a credit rating agency registered under Chapter 1 of Title 3 to the CRA Regulation, as that Regulation has effect in the European Union.

Annotations

Textual amendments

F1: Words in reg. 31 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 11(c)

Commencement

I1: Reg. 31 in force at 14.2.2019, see reg. 1(2)

Notes on the whole SI

Textual amendments

F1: Regulations revoked (1.1.2024 for the revocation of reg. 3(3)) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/779, reg. 5(c)(iii)