Article 2 Qualifying provisions: generalF43

United Kingdom

(1)

The instruments listed in paragraph (2) are specified F1qualifying provisions for the purposes of sections 1A(6)(d), 1L(2)(b), 39(4)(b), F266A(4)(b) and 168(4)(k) of the Act.

(2)

The instruments are—

(a)

any directly applicable regulation made under the markets in financial instruments directive;

F3(aa)

the markets in financial instruments regulation and any directly applicable EU regulation made under that regulation;

(b)

any directly applicable regulation made under the UCITS directive;

F4(ba)

any directly applicable regulation made under the alternative investment fund managers directive;

(c)

the emission allowance auctioning regulation;

F5(ca)

the UK auctioning regulations;

(d)

the European market infrastructure regulation;

(e)

any directly applicable regulation made under the European market infrastructure regulation;

F6(f)

the EuSEF Regulation and any directly applicable regulation made under that Regulation;

(g)

the EuVECA Regulation and any directly applicable regulation made under that Regulation;

F7(h)

the CSD regulation and any directly applicable regulation made under that Regulation;

F8(i)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F9(j)

the market abuse regulation and any directly applicable regulation made under that Regulation;

(k)

~~F10the PRIIPs regulation and any directly applicable regulation made under that Regulation;~~

F11(l)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(m)

the MMF Regulation and any directly applicable regulation or decision made under that Regulation;

F13(n)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

The instruments listed in paragraph (4) are also specified F14qualifying provisions for the purposes of sections 1A(6)(d), 1L(2)(b) and 168(4)(k) of the Act.

(4)

The instruments are—

(~~F15a~~)

~~the short selling regulation;~~

(~~F16b~~)

~~any directly applicable regulation made under the short selling regulation;~~

F17(c)

any directly applicable regulation made under the recovery and resolution directive.

F18(4A)

The SFT regulation and any directly applicable regulation made under Article 4(9) or 4(10) of the SFT regulation are specified F19qualifying provisions for the purposes of sections 1A(6)(d), 1L(2)(b) and 168(4)(k) of the Act.

(5)

The instruments listed in paragraph (6) are specified F20qualifying provisions for the purposes of sections F212AB(3)(d) and F2266B(4)(b) of the Act.

(6)

The instruments are—

(a)

any directly applicable regulation made under the markets in financial instruments directive;

F23(aa)

the markets in financial instruments regulation and any directly applicable EU regulation made under that regulation;

(b)

the European market infrastructure regulation;

(c)

any directly applicable regulation made under the European market infrastructure regulation;

F24(d)

the CSD regulation and any directly applicable regulation made under that Regulation;

F25(e)

any directly applicable regulation made under the recovery and resolution directive;

F26(f)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7)

The instruments listed in paragraph (8) are specified F27qualifying provisions for the purposes of section 293A of the Act.

(8)

The instruments are—

(a)

any directly applicable regulation made under the markets in financial instruments directive;

F28(aa)

the markets in financial instruments regulation and any directly applicable EU regulation made under that regulation;

(b)

the emission allowance auctioning regulation;

F29(ba)

the UK auctioning regulations;

(c)

the European market infrastructure regulation;

(d)

any directly applicable regulation made under the European market infrastructure regulation;

F30(e)

the CSD regulation and any directly applicable regulation made under that Regulation;

F31(f)

the market abuse regulation and any directly applicable regulation made under that Regulation;

F32(g)

the SFT regulation and any directly applicable regulation made under Article 4(9) or 4(10) of the SFT regulation.

F33(9)

Directly applicable regulations made under the recovery and resolution directive are specified F34qualifying provisions for the purpose of sections F3566B(4)(b) and 192K(1)(c) of the Act.

F36(10)

The market abuse regulation and any directly applicable regulation made under that Regulation are specified qualifying provisions for the purposes of section F3766A(4)(b) of the Act.

F38(11)

Directly applicable regulations made under the Solvency 2 Directive are specified qualifying provisions for the purposes of sections 2A(6)(d), 39(4)(b), 66B(4)(b) and 168(4)(k) of the Act.

F39(12)

The EU Benchmarks Regulation 2016 is a specified F40qualifying provision for the purpose of section 1A(6)(d) of the Act.

(13)

The EU Benchmarks Regulation 2016 and any directly applicable regulation made under the EU Benchmarks Regulation 2016 is a specified F41qualifying provision for the purposes of sections 1L(2)(b), 39(4)(b), 66A(4)(b), 168(4)(k), 192K(1)(c) and 293A of the Act.

F42(14)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Words in art. 2(1) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(4)(a); 2020 c. 1, Sch. 5 para. 1(1)
F2: Word in art. 2(1) substituted (21.11.2016) by The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) (No. 2) Order 2016 (S.I. 2016/1023), arts. 1, 2(a)
F3: Art. 2(2)(aa) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 6(2)(a) (with reg. 7)
F4: Art. 2(2)(ba) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 22(3)(a)
F5: Art. 2(2)(ca) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 7(3)(a)
F6: Art. 2(2)(f)(g) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 22(3)(b)
F7: Art. 2(2)(h) inserted (21.11.2014) by The Central Securities Depositories Regulations 2014 (S.I. 2014/2879), regs. 1(1), 9(2)(a)
F8: Art. 2(2)(i) omitted (1.1.2024) by virtue of The Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023 (S.I. 2023/1410), regs. 1(2), 8(3)
F9: Art. 2(2)(j) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 22(2)(a)
F10: Art. 2(2)(k) omitted (22.11.2024 for specified purposes) by virtue of The Consumer Composite Investments (Designated Activities) Regulations 2024 (S.I. 2024/1198), reg. 2(1)(c)(2), Sch. 2 para. 2(3)
F11: Art. 2(2)(l) omitted (1.1.2025) by virtue of The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 (S.I. 2024/1239), regs. 1(2), 6(2)
F12: Art. 2(2)(m) inserted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 5(3)
F13: Art. 2(2)(n) omitted (1.11.2024) by virtue of The Securitisation (Amendment) Regulations 2024 (S.I. 2024/705), reg. 1(3), Sch. 2 para. 5(3)
F14: Words in art. 2(3) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(4)(a); 2020 c. 1, Sch. 5 para. 1(1)
F15: Art. 2(4)(a) omitted (14.1.2025 for specified purposes) by virtue of The Short Selling Regulations 2025 (S.I. 2025/29), reg. 2(2)(3), Sch. 2 para. 5(2)
F16: Art. 2(4)(b) omitted (14.1.2025 for specified purposes) by virtue of The Short Selling Regulations 2025 (S.I. 2025/29), reg. 2(2)(3), Sch. 2 para. 5(2)
F17: Art. 2(4)(c) inserted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 12(3)(a)
F18: Art. 2(4A) inserted (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 2 para. 4(2)(a)
F19: Words in art. 2(4A) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(4)(a); 2020 c. 1, Sch. 5 para. 1(1)
F20: Words in art. 2(5) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(4)(a); 2020 c. 1, Sch. 5 para. 1(1)
F21: Word in art. 2(5) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 6(2)(b) (with reg. 7)
F22: Word in art. 2(5) substituted (21.11.2016) by The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) (No. 2) Order 2016 (S.I. 2016/1023), arts. 1, 2(b)
F23: Art. 2(6)(aa) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 6(2)(c) (with reg. 7)
F24: Art. 2(6)(d) inserted (21.11.2014) by The Central Securities Depositories Regulations 2014 (S.I. 2014/2879), regs. 1(1), 9(2)(b)
F25: Art. 2(6)(e) inserted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 12(3)(b)
F26: Art. 2(6)(f) omitted (1.11.2024) by virtue of The Securitisation (Amendment) Regulations 2024 (S.I. 2024/705), reg. 1(3), Sch. 2 para. 5(3)
F27: Words in art. 2(7) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(4)(a); 2020 c. 1, Sch. 5 para. 1(1)
F28: Art. 2(8)(aa) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 6(2)(d) (with reg. 7)
F29: Art. 2(8)(ba) inserted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 7(3)(b)
F30: Art. 2(8)(e) inserted (21.11.2014) by The Central Securities Depositories Regulations 2014 (S.I. 2014/2879), regs. 1(1), 9(2)(c)
F31: Art. 2(8)(f) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 22(2)(b)
F32: Art. 2(8)(g) inserted (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 2 para. 4(2)(b)
F33: Art. 2(9) inserted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 12(3)(c)
F34: Words in art. 2(9)-(11) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(4)(a); 2020 c. 1, Sch. 5 para. 1(1)
F35: Word in art. 2(9) substituted (21.11.2016) by The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) (No. 2) Order 2016 (S.I. 2016/1023), arts. 1, 2(c)
F36: Art. 2(10) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 22(2)(c)
F37: Word in art. 2(10) substituted (21.11.2016) by The Financial Services (Banking Reform) Act 2013 (Consequential Amendments) (No. 2) Order 2016 (S.I. 2016/1023), arts. 1, 2(d)
F38: Art. 2(11) inserted (12.10.2016) by The Financial Services and Markets Act 2000 (Qualifying EU Provisions) (Amendment) Order 2016 (S.I. 2016/936), arts. 1(2), 2(2)
F39: Art. 2(12)(13) inserted (27.2.2018) by The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (S.I. 2018/135), regs. 1(2), 58(3)
F40: Words in art. 2(12) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(5); 2020 c. 1, Sch. 5 para. 1(1)
F41: Words in art. 2(13) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(5); 2020 c. 1, Sch. 5 para. 1(1)
F42: Art. 2(14) omitted (30.1.2024 for specified purposes, 19.1.2026 in so far as not already in force) by virtue of The Public Offers and Admissions to Trading Regulations 2024 (S.I. 2024/105), reg. 2(2)(3), Sch. 3 para. 34 (with regs. 48-50); S.I. 2025/1078, reg. 5(b) (with reg. 12)
F43: Words in art. 2 heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(4)(a); 2020 c. 1, Sch. 5 para. 1(1)

Notes on the whole SI

Textual amendments

F1: Words in Title substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 187(2); 2020 c. 1, Sch. 5 para. 1(1)