OpenLegislation

Regulation 23 Article 25b

Original text. Later amendments are not shown.

In Article 25b—

(a)

in each place where it occurs, for “ESMA” substitute “The Bank of England”;

(b)

in paragraph 1—

(i)

in the first subparagraph, omit the final sentence;

(ii)

omit the third subparagraph;

(c)

in paragraph 2—

(i)

omit “or where ESMA receives a notification pursuant to the third subparagraph of paragraph 1”;

(ii)

for “(2), (3) and (4)” substitute “(2) and (3)”;

(d)

for paragraph 3 substitute—

“3.

The Bank of England shall carry out assessments of the resilience of recognised Tier 2 CCPs to adverse market developments.”