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Regulation 29 Article 49

Original text. Later amendments are not shown.

In Article 49—

(a)

in paragraph 1a—

(i)

in both places it occurs, for “competent authority and ESMA” substitute “Bank of England”;

(ii)

omit “each”;

(b)

omit paragraphs 1b and 1c;

(c)

in paragraph 1d, for “competent authority and ESMA shall each inform the CCP and each other” substitute “Bank of England shall inform the CCP”;

(d)

in paragraph 1e—

(i)

for “its competent authority and ESMA” substitute “the Bank of England”;

(ii)

for “competent authority, in agreement with ESMA,” substitute “Bank of England”;

(2)

for paragraph 5 substitute—

“(5)

 The Bank of England may make technical standards specifying the conditions under which changes to the models and parameters referred to in paragraph 1 are significant.”.