Regulation 12 Central securities depositories

(1)

In Article 22—

(a)

in paragraph 3, for “Directive 2014/59/EU” substitute “the Bank Recovery and Resolution (No.2) Order 2014^f1”;

(b)

omit paragraphs 6 to 8;

(c)

in paragraph 10—

(i)

in the first sub-paragraph—

(aa)

for the words from the beginning to “develop draft” substitute “The Bank of England may make”;

(bb)

omit points (b) and (c);

(ii)

omit the second and third sub-paragraphs;

(d)

in paragraph 11—

(i)

in the first sub-paragraph, for the words from the beginning to “develop draft” substitute “The Bank of England may make”;

(ii)

omit the second and third sub-paragraphs.

(2)

Omit Articles 23 and 24.

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