# The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017, Paragraph 1: Interpretation of Schedule 1

Extent: E+W+S+N.I.

In this Schedule—
“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 ;
“management body” in relation to a person (“P”) means—
(a)the board of directors, or if there is no such board, the equivalent body responsible for the management of P; and
(b)any other person who effectively directs the business of P;
“non-authorised counterparty” means—
(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
(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;
“PRA-authorised person” has the meaning given in section 2B(5) of the Act ;
“recognised body” has the meaning given in section 313(1) of the Act;
“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.

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Source: https://www.legislation.gov.uk/uksi/2017/701/schedule/1/paragraph/1 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-markets-in-financial-instruments-regulations-2017/schedule-1/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.