Regulation 6 Amendments of Part 18, Chapter 1A: Control over recognised investment exchange

(1)

Chapter 1A (control over recognised investment exchange) is amended as follows.

(2)

In section 301E (disregarded holdings)^f1—

(a)

in subsection (4)—

(i)

in paragraph (a), for “article 4.1.7 of the markets in financial instruments 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 a regulated activity which is any of the investment services or activities; and”;

(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), in sub-paragraph (ii), omit the words from “in accordance with” to “directive”;

(d)

in subsection (7), for “Article 2.1(b) of the UCITS directive” substitute “section 237(2)”.

(3)

In section 301M (interpretation of Chapter 1A of Part 18)^f2, in subsection (1) omit the definition of “credit institution”.

Annotations

Footnotes

f1: Section 301E was inserted by S.I. 2007/126 and substituted by S.I. 2009/534; subsection (4)(a) was amended by S.I. 2017/701 and subsection (7) was amended by S.I. 2011/1613.
f2: Section 301M was inserted by S.I. 2009/534; subsection (1) was amended by S.I. 2013/3115.