{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-markets-in-financial-instruments-regulations-2017/schedule-1/paragraph-1",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-markets-in-financial-instruments-regulations-2017/schedule-1/paragraph-1.json",
  "legislation": "uksi/2017/701",
  "legislation_title": "The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-markets-in-financial-instruments-regulations-2017",
  "path": "schedule/1/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": "Interpretation of Schedule 1",
  "text": "In this Schedule—\n“the EMIR regulation” means Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories as last amended by Regulation (EU) 2019/2099 of the European Parliament and of the Council of 23 October 2019 ;\n“management body” in relation to a person (“P”) means—\n(a)the board of directors, or if there is no such board, the equivalent body responsible for the management of P; and\n(b)any other person who effectively directs the business of P;\n“non-authorised counterparty” means—\n(a)a financial counterparty (within the meaning of Article 2.8 of the EMIR regulation) who is neither an authorised person nor a recognised body; or\n(b)a non-financial counterparty (within the meaning of Article 2.9 of the EMIR regulation) who meets the conditions in Article 10.1.b of that regulation;\n“PRA-authorised person” has the meaning given in section 2B(5) of the Act ;\n“recognised body” has the meaning given in section 313(1) of the Act;\n“senior management ” means natural persons who exercise executive functions within an investment firm, a market operator or a data reporting services provider and who are responsible, and accountable to the management body, for the day-to-day management of the entity, including for the implementation of the policies concerning the distribution of services and products to clients by the firm and its personnel.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 1 para. 1 inserted (27.2.2020) by The Financial Services and Markets Act 2000 (Central Counterparties, Investment Exchanges, Prospectus and Benchmarks) (Amendment) Regulations 2020 (S.I. 2020/117), regs. 1(2), 7"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 1 para. 1 substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 16(1) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "OJ No L173, 12/6/2014, p84."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "Section 2B was inserted by section 6 of the Financial Services Act 2012 (c.21)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2017/701/schedule/1/paragraph/1",
    "retrieved_at": "2026-10-28T23:10:02.096065+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}