Regulation 158 Article 85 (contracts for differences etc)

(1)

Article 85 (contracts for differences etc) is amended as follows.

(2)

In paragraph (3)(b)^f1, for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”.

(3)

In paragraphs (4)^f2 and (4B)^f3, 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,

(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.”.

(4)

In paragraph (4A)(c)^f4—

(a)

for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”;

(b)

for “the texts of which are set out in Parts 1 and 2 of Schedule 2” substitute “the text of which is set out in Part 2 of Schedule 2”.

(5)

Omit paragraph (5)^f5.

Annotations

Footnotes

f1: Paragraph (3) was inserted by S.I. 2006/3384.
f2: Paragraph (4) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.
f3: Paragraph (4B) was inserted by S.I. 2017/488.
f4: Paragraph (4A) was inserted by S.I. 2017/488.
f5: Paragraph (5) was inserted by S.I. 2006/3384.