Article 10 Disclosure of interests in shares: interpretationI1

Subsection (1) of section 220 of the 1985 Act (interpretation of Part 6)^f1 is amended in accordance with paragraphs (2) to (8).

The definitions of “authorised credit institution” and “designated agency” are repealed.

In the definition of “authorised unit trust scheme” for “Chapter VIII of Part I of the Financial Services Act 1986” substitute “Part 17 of the Financial Services and Markets Act 2000”.

For the definition of “derivatives” substitute—

• ““derivatives” means options and futures in relation to shares;”.

After the definition of “derivatives” insert—

• ““EEA authorisation” has the same meaning as in paragraph 6 of Schedule 3 to the Financial Services and Markets Act 2000;”.

In the definition of “operator” for “section 75(8) of the Financial Services Act 1986” substitute “section 237(2) of the Financial Services and Markets Act 2000”.

For the definition which begins ““recognised clearing house”,” substitute—

• ““recognised clearing house” has the same meaning as in the Financial Services and Markets Act 2000;

• “recognised scheme” has the same meaning as in Part 17 of the Financial Services and Markets Act 2000;”.

In the definition of “units” for “section 75 of the Financial Services Act 1986” substitute “section 237(2) of the Financial Services and Markets Act 2000”.

After section 220(1) of the 1985 Act insert—

“(1A)

References in subsection (1) to contracts of insurance (of any description), options and futures must be read with—

(a)

section 22 of the Financial Services and Markets Act 2000;

(b)

any relevant order under that section; and

(c)

Schedule 2 to that Act.”.