Regulation 16 Amendment of the SFT regulation

In Article 13—

(a)

in paragraph (1)—

(i)

in point (a), for “Article 68 of Directive 2009/65/EC” substitute “section 4.5.3 of the Collective Investment Schemes sourcebook”;

(ii)

in point (b), for “Article 22 of Directive 2011/61/EU” substitute “section 3.3 of the Investment Funds sourcebook”;

(b)

in paragraph (3)—

(i)

in the first subparagraph—

(aa)

for “Directives 2009/65/EC and 2011/61/EU” substitute “the UK law in relation to collective investment undertakings”;

(bb)

for “develop draft regulatory” substitute “make”;

(ii)

omit the second subparagraph.