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Article 1 Overview of requirements regarding the capital of a CSD

United Kingdom

Original text. Later amendments are not shown.

1.

For the purposes of Article 47(1) of Regulation (EU) No 909/2014, a central securities depository (‘CSD’) shall hold at all times, together with retained earnings and reserves, the amount of capital specified in Article 3 of this Regulation.

2.

The capital requirements referred to in Article 3 shall be met with capital instruments that meet the conditions set out in Article 2 of this Regulation.