# The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, Regulation 156: Article 83 (options)


(1) Article 83 (options) is amended as follows.
(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”.
(3) In paragraph (2)(d)—
(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”;
(b) in paragraph (ii), for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of that Schedule”.
(4) In paragraph (3)(c), for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”.
(5) In paragraph (4), 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.”.
(6) Omit paragraph (5).

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111179970/regulation/156 (the official version)
Page: https://openlegislation.uk/draft-financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019/regulation-156
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.