Regulation 14 Removal of persons from the management board

In regulation 38, in paragraph (1), for the words from “functions under” to the end of the paragraph, substitute—

“functions under—

(a)

these Regulations;

(b)

the markets in financial instruments regulation;

(c)

EU tertiary legislation (within the meaning of section 20 of the European Union (Withdrawal) Act 2018) made under the markets in financial instruments directive which forms part of retained EU law ; or

(d)

the Act, which correspond to functions under the markets in financial instruments directive.”.