{
  "url": "https://openlegislation.uk/draft-financial-regulators-powers-technical-standards-etc-amendment-etc-eu-exit-regulations-2018/regulation-2",
  "json_url": "https://openlegislation.uk/draft-financial-regulators-powers-technical-standards-etc-amendment-etc-eu-exit-regulations-2018/regulation-2.json",
  "legislation": "ukdsi/2018/9780111171394",
  "legislation_title": "The Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018",
  "legislation_url": "https://openlegislation.uk/draft-financial-regulators-powers-technical-standards-etc-amendment-etc-eu-exit-regulations-2018",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation",
  "text": "For the purpose of this Part—\n(a) the “appropriate regulator” in relation to—\n(i) the EU Regulations specified in Part 1 of the Schedule, is the FCA;\n(ii) the EU Regulations specified in Part 2 of the Schedule, is the PRA;\n(iii) the EU Regulations specified in Part 3 of the Schedule, is the Bank of England;\n(iv) the EU Regulations specified in Part 4 of the Schedule, is both the FCA and the PRA;\n(v) the EU Regulations specified in Part 5 of the Schedule, is both the FCA and the Bank of England;\n(vi) the EU Regulation specified in Part 6 of the Schedule, is the Payment Systems Regulator;\n(vii) EU-derived provisions, means whichever of the FCA, the PRA or the Bank of England made the provisions,\nand for the purposes of this paragraph, reference to EU Regulations includes a reference to part of an EU Regulation;\n(b) “authorised persons” and “PRA-authorised persons” have the meaning given in sections 31(2) and 2B(5) respectively of the Financial Services and Markets Act 2000;\n(c) “central counterparty” has the meaning given in section 313 of the Financial Services and Markets Act 2000;\n(d) “central securities depository” has the meaning given in section 417 of the Financial Services and Markets Act 2000;\n(e) “the EMIR regulation” means Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories;\n(f) “EU-derived provisions” means rules and other enactments made by the FCA, the PRA or the Bank of England which fall within the definition of “EU-derived domestic legislation” within the meaning of section 2(2) of the European Union (Withdrawal) Act 2018;\n(g) “EU Exit instrument” means an instrument in writing made in accordance with regulation 3(1);\n(h) “FCA” means the Financial Conduct Authority;\n(i) “PRA” means the Prudential Regulation Authority;\n(j) “Payment Systems Regulator” means the body established under section 40 of the Financial Services (Banking Reform) Act 2013;\n(k) “regulators” mean the FCA, the PRA, the Bank of England and the Payment Systems Regulator;\n(l) “specified EU Regulations” mean the EU Regulations or parts of EU Regulations forming part of retained EU law which are specified in the Schedule;\n(m) a person is connected with another person in the circumstances set out in section 165(11) of the Financial Services and Markets Act 2000.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 2B was substituted, with the rest of Part 1A for Part 1 by section 6(1) of the Financial Services Act 2012 (c.21)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "The definition of “central counterparty” was inserted by S.I. 2013/504."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "The definition of “central securities depository” was inserted by S.I. 2017/1064. There are other amendments to s.417 of the Financial Services and Markets Act 2000 which are not relevant to these Regulations."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "OJ L201, 27.7.2012, p.1 as lasted amended by Commission Regulation (EU) 2017/979, OJ L148,10.6.2017, p.1."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "2013 c.33."
    },
    {
      "type": "footnote",
      "label": "f6",
      "text": "Section 165(11) was amended by paragraph 1 of Schedule 12 to the Financial Services Act 2012 (c.21)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2018/9780111171394/regulation/2",
    "retrieved_at": "2026-10-30T15:04:16.796428+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}