Regulation 49 Section 184 (disregarded holdings)

In section 184^f1 (disregarded holdings)—

(a)

in subsection (4)—

(i)

in paragraph (a)^f2, for the words from “article 4.1.7” to “directive” substitute “article 2.1.6 of the markets in financial instruments regulation”;

(ii)

for paragraph (b), substitute—

“(b)
has a Part 4A permission to carry on one or more investment services and activities;”;

(b)

in subsection (5), for “credit institution” substitute “qualifying credit institution”;

(c)

in subsection (6)—

(i)

in the opening words and in paragraph (b)), for “credit institution” substitute “qualifying credit institution”;

(ii)

in paragraph (a)(ii), omit the words from “in accordance with” to the end;

(d)

in subsection (7)^f3, for “Article 2.1(b) of the UCITS Directive” substitute “section 237(2)”;

(e)

in subsection (9A)^f4, for the words from “Commission” to “financial instruments” substitute “the market abuse regulation and the Commission Delegated Regulation (EU) No. 1052/2016 of 8 March 2016 supplementing Regulation (EU) No. 596/2014 of the European Parliament and the Council with regard to the regulatory technical standards for conditions applicable to buy-back programmes and stabilisation measures”.

Annotations

Footnotes

f1: Section 184 was substituted by S.I. 2009/534.
f2: Section 184(4)(a) was substituted by S.I. 2017/701.
f3: Section 184(7) was amended by S.I. 2011/1613.
f4: Section 184(9A) was inserted by S.I. 2015/1755.