Regulation 12 Article 10 (registration of a securitisation repository)

(1)

Article 10 is amended as follows.

(2)

In paragraphs 1, 4 and 5 for “ESMA”, wherever it appears, and in paragraph 6, in the second place where it appears, substitute “the FCA”.

(3)

In paragraph 2 for “the Union” substitute “the United Kingdom”.

(4)

Omit paragraph 3.

(5)

After paragraph 5 insert—

“5A.

For the purposes of this Article, Articles 78, 79 and 80 of Regulation (EU) No 648/2012 have effect in relation to a securitisation repository as they have effect in relation to a trade repository, but with the following modifications—

(a)
a reference to a trade repository is a reference to a securitisation repository within the meaning given by point (23) of Article 2 of this Regulation; and

(b)
a reference to Regulation (EU) No 648/2012 is a reference to this Regulation.”.

(6)

In paragraph 6 for “ESMA”, in the first place where it appears, substitute “The FCA”;

(7)

In paragraph 7—

(a)

in the first subparagraph for “ESMA shall develop draft regulatory” substitute “the FCA may make”; and

(b)

omit the second and third subparagraphs.

(8)

In paragraph 8—

(a)

in the first subparagraph for “ESMA shall develop draft implementing” substitute “the FCA may make”; and

(b)

omit the second, third and fourth subparagraphs.