Regulation 10 Transitional provisions: interpretation

In this regulation and in regulations 11 and 12—

• “the Act” means the Financial Services and Markets Act 2000;

• “CSD Operator” means a person established in the United Kingdom who immediately before 30th March 2017—

  1. (a)

     was an Operator approved under the Uncertificated Securities Regulations 2001,

  2. (b)

     operated a securities settlement system referred to in point (3) of Section A of the Annex to the CSD regulation in the United Kingdom, and

  3. (c)

     provided at least one other core service listed in Section A of that Annex in the United Kingdom;

• “commencement” means the coming into force of this Part of these Regulations;

• “CSD regulation” means Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23rd July 2014 on improving securities settlement in the European Union and on central securities depositories;

• “Operator register of securities” has the meaning given in regulation 3 of the Uncertificated Securities Regulations 2001;

• “recognised CSD” has the meaning given in section 285 of the 2000 Act.