Regulation 156 Article 83 (options)

Article 83 (options) is amended as follows.

In paragraph (1)(e)^f1, for the words after “an option to which” substitute “paragraph 5, 6, 7 or 10 of Part 1 of Schedule 2 (read with Articles 5, 6, 7, and 8 of the Commission Regulation) applies”.

In paragraph (2)(d)^f2—

In paragraph (3)(c)^f3, for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”.

In paragraph (4)^f4, for sub-paragraphs (a) to (d) substitute—

“(a)

an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

(b)

a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

(c)

a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or

(d)

a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.”.

Omit paragraph (5)^f5.