OpenLegislation

Regulation 157 Article 84 (futures)C1I1

United Kingdom

(1)

Article 84 (futures) is amended as follows.

(2)

In paragraph (1A)(d), (1B)(e) and (1C)(c) M1, for “Section C of Annex I to the markets in financial instruments directive” substitute “ Part 1 of Schedule 2 ”.

(3)

In paragraph (1CA) M2—

(a)

for “Section C of Annex I to the markets in financial instruments directive” substitute “ Part 1 of Schedule 2 ”;

(b)

for “the texts of which are set out in Parts 1 and 2 of Schedule 2” substitute “ the text of which is set out in Part 2 of Schedule 2 ”.

(4)

In paragraph (1D) M3, for sub-paragraphs (a) to (d) substitute—

“(a)

an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,

(b)

a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,

(c)

a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or

(d)

a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.”.

(5)

Omit paragraph (1E) M4.

Annotations

Marginal citations

M1

Paragraph (1A), (1B) and (1C) were inserted by S.I. 2006/3384 and amended by S.I. 2017/488.

M2

Paragraph (1CA) was inserted by S.I. 2017/488.

M3

Paragraph (1D) was inserted by S.I. 2006/3384 and was amended by S.I. 2011/1613 and S.I. 2017/488.

M4

Paragraph (1E) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.

Modifications

C1

Pts. 3-6 modified in part (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)

Commencement

I1

Reg. 157 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)