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Regulation 12 Synchronisation of business clocks

Original text. Later amendments are not shown.

In regulation 35—

(a)

in paragraph (1)—

(i)

in sub-paragraph (a), for “M’s home Member State is” substitute “M is established in”;

(ii)

for sub-paragraph (b), substitute—

“(b)

M falls within paragraph (1A) of regulation 30; and”;

(iii)

in sub-paragraph (c), for “for the purposes of the directive” substitute “to carry on a regulated activity which is any of the investment services and activities”;

(b)

in paragraph (2), for the words from “regulatory technical standards” to the end of the paragraph, substitute “Commission Delegated Regulation (EU) 2017/574 of 7 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the level of accuracy of business clocks.”.