# The Over the Counter Derivatives (Intragroup Transactions) Regulations 2026, Regulation 3: Amendments to the definition of an intragroup transaction in Article 3 of the EMIR Regulation


(1) Article 3 of the EMIR Regulation (intragroup transactions) is amended as follows.
(2) For paragraph 1, substitute—
“1. In relation to a counterparty, an intragroup transaction is an OTC derivative contract entered into with another counterparty which is part of the same group provided that both counterparties are included in the same consolidation on a full basis and they are subject to appropriate centralised risk evaluation, measurement and control procedures.”.
(3) Omit paragraph 2.
(4) In paragraph 3—
(a) omit “are both either”;
(b) in point (a)—
(i) at the beginning, insert “are both”;
(ii) for point (i), substitute—
“(i) the Companies Act 2006;”;
(iii) in point (iii), for point (aa), substitute—
“(aa) UK-adopted international accounting standards, recognised as equivalent for the purposes of Commission Decision of 12 December 2008 on the use by third countries’ issuers of securities of certain third country’s national accounting standards and International Financial Reporting Standards to prepare their consolidated financial statements (2008/961/EC); or”;
(c) in point (b), at the beginning, insert “are both”;
(d) in point (c), at the beginning, insert “both”.

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Source: https://www.legislation.gov.uk/ukdsi/2026/9780348285260/regulation/3 (the official version)
Page: https://openlegislation.uk/draft-over-the-counter-derivatives-intragroup-transactions-regulations-2026/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.