OpenLegislation

Article 2 Scope

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

1.

This Regulation applies to:

(a)

a counterparty to an SFT that is established:

  1. (i)

    in the F1United Kingdom, including all its branches irrespective of where they are located;

  2. (ii)

    in a third country, if the SFT is concluded in the course of the operations of a branch in the United Kingdom of that counterparty;

F2(b)

management companies, managers and operators of UCITS and UCITS investment companies;

(c)

managers of alternative investment funds (AIFMs) authorised F3or registered in accordance with the Alternative Investment Fund Managers Regulations 2013;

(d)

a counterparty engaging in reuse that is established:

  1. (i)

    in the United Kingdom, including all its branches irrespective of where they are located;

  2. (ii)

    in a third country, where either:

    • the reuse is effected in the course of the operations of a branch in the United Kingdom of that counterparty, or

    • the reuse concerns financial instruments provided under a collateral arrangement by a counterparty established in the United Kingdom or a branch in the United Kingdom of a counterparty established in a third country.

2.

Articles 4 and 15 do not apply to:

F4(a)

the Bank of England and other United Kingdom bodies charged with, or intervening in, the management of the public debt;

(b)

the Bank for International Settlements.

3.

Article 4 does not apply to transactions F5to which:

(a)

the Bank of England; or

(b)

another United Kingdom body charged with, or intervening in, the management of the public debt,

F64.

The Treasury may by statutory instrument amend the list set out in paragraph (2) of this Article.

Annotations

Textual amendments

F1

Words in Arts. 2-20 substituted (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 5(1)(3) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F2

Art. 2(1)(b) substituted (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 6(a)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F3

Words in Art. 2(1)(c) substituted (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 6(a)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F4

Art. 2(2)(a) substituted (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 6(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F5

Words in Art. 2(3) substituted (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 6(c) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F6

Art. 2(4) substituted (31.12.2020) by The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542), regs. 1, 6(d) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)