Paragraph 3

(1)

Article 3 (prohibition of insider trading) is amended as follows.

(2)

In paragraph 3, for the words from “obligations under” to the end substitute—

“obligations under any provision of a licence condition or industry code—

(a)
which, immediately before exit day, implemented points (d) and (e) of Article 12 of Directive 2009/72/EC or points (a) and (c) of Article 13(1) of Directive 2009/73/EC; or

(b)
which would, if it had existed immediately before exit day, have implemented any of those provisions”.

(3)

In paragraph 4—

(a)

in subparagraph (b), omit “Agency and the”;

(b)

in subparagraph (c), for “a Member State” substitute “the United Kingdom”.