# The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018, Regulation 12: Synchronisation of business clocks


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.”.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111173480/regulation/12 (the official version)
Page: https://openlegislation.uk/draft-markets-in-financial-instruments-amendment-eu-exit-regulations-2018/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.