# The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2020, Regulation 23: Article 25b


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.”

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Source: https://www.legislation.gov.uk/ukdsi/2020/9780111194676/regulation/23 (the official version)
Page: https://openlegislation.uk/draft-over-the-counter-derivatives-central-counterparties-and-trade-repositories-amendment-etc-and-transitional-provision-eu-exit-regulations-2020/regulation-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.