{
  "url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019/regulation-156",
  "json_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019/regulation-156.json",
  "legislation": "ukdsi/2019/9780111179970",
  "legislation_title": "The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/draft-financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019",
  "path": "regulation/156",
  "kind": "regulation",
  "number": "156",
  "heading": "Article 83 (options)",
  "text": "(1) Article 83 (options) is amended as follows.\n(2) In paragraph (1)(e), 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”.\n(3) In paragraph (2)(d)—\n(a) in paragraph (i) omit “Section C of Annex I to the markets in financial instruments directive, the text of which is set out in”;\n(b) in paragraph (ii), for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of that Schedule”.\n(4) In paragraph (3)(c), for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”.\n(5) In paragraph (4), for sub-paragraphs (a) to (d) substitute—\n“(a) an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,\n(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,\n(c) a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or\n(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.”.\n(6) Omit paragraph (5).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Paragraph (1)(e) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Paragraph (2) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Paragraph (3) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Paragraph (4) was inserted by S.I. 2006/3384 and was amended by S.I. 2011/1613 and S.I. 2017/488."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "Paragraph (5) was inserted by S.I. 2006/3384."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2019/9780111179970/regulation/156",
    "retrieved_at": "2026-10-30T15:01:09.462058+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."
}