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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations are the 14th commencement Regulations made under the Financial Services and Markets Act 2023 (c. 29) (“the Act”).

Section 1(1) of the Act revokes the legislation listed in Schedule 1 to that Act, which includes assimilated direct principal legislation, subordinate legislation and EU tertiary legislation.

These Regulations bring into force on 13th July 2026 section 1(1) of the Act so far as it relates to the revocation of certain instruments referred to in Schedule 1 to the Act. Those instruments are as follows—

  • Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps (“the EU Short Selling Regulation 2012”);

  • the Financial Services and Markets Act 2000 (Short Selling) Regulations 2012;

  • instruments made under the EU Short Selling Regulation 2012.

A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen. A full impact assessment has been published in relation to the Act and copies can be obtained from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ or at https://bills.parliament.uk/publications/49053/documents/2621.