Regulation 27 Liquidity management

(1)

Before Article 46, omit “(Article 16 of Directive 2011/61/EU)”.

(2)

In Article 46—

(a)

for “competent authorities of their home Member State”, substitute “FCA”;

(b)

for “Article 16(1) of Directive 2011/61/EU” substitute “rule 3.6.3 of the Investment Funds sourcebook”.

(3)

In Article 47, in paragraph 1(c)—

(a)

for “Article 16(1) of Directive 2011/61/EU” substitute “rule 3.6.3 of the Investment Funds sourcebook”;

(b)

for “regulated market within the meaning of point (14) of Article 4(1) of Directive 2004/39/EC” substitute “UK regulated market within the meaning of point (13A) of Article 2(1) of Regulation (EU) No 600/2014^f1”.

(4)

In Article 49(1), for “Article 16(2) of Directive 2011/61/EU” substitute “rule 3.6.2 of the Investment Funds sourcebook”.

Annotations

Footnotes

f1: Point (13A) is inserted into Article 2(1) by the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018.