# The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018, Regulation 16: Central securities depositories


(1) In Article 37—
(a) in paragraph 2, after “other CSDs” insert “, third-country CSDs”;
(b) in paragraph 4—
(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) In Article 38, in paragraph 5, omit the second sub-paragraph.
(3) In Article 39—
(a) in paragraph 1—
(i) for “Member States” substitute “The competent authority”;
(ii) for “point (a) of Article 2 of Directive 98/26/EC” substitute “regulation 4 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999”;
(b) in paragraph 2, for “Articles 3 and 5 of Directive 98/26/EC” substitute “regulation 20 of, and paragraph 5 of the Schedule to, the Financial Markets and Insolvency (Settlement Finality) Regulations 1999”.
(4) In Article 41, omit paragraph 4.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111174050/regulation/16 (the official version)
Page: https://openlegislation.uk/draft-central-securities-depositories-amendment-eu-exit-regulations-2018/regulation-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.