Regulation 5 Amendment of Part 2 of the Schedule

(1)

In Part 2 of the Schedule (modifications of UK CSDR)—

(a)

for the entry for Articles 64 to 66 substitute —

“

Article 64 Treat this article as disapplied.
Article 65 In paragraph (1), treat the reference to “competent authority” as a reference to a digital securities depository. Treat the reference to “infringements of this Regulation” as a reference to infringements of requirements (which may include a requirement imposed by a SAN) imposed by or under these Regulations. Treat the reference to “competent authorities” as a reference to the Bank of England. In paragraph (3), treat the first sub-paragraph as imposing a direct requirement on a digital securities depository to have in place the reporting procedures mentioned in that paragraph.
Article 66 Treat this article as disapplied.

”;

(b)

in the entry for Article 73, in the second column substitute—

“

Article 73 Treat this article as disapplied.

”.

Article 64	Treat this article as disapplied.
Article 65	In paragraph (1), treat the reference to “competent authority” as a reference to a digital securities depository. Treat the reference to “infringements of this Regulation” as a reference to infringements of requirements (which may include a requirement imposed by a SAN) imposed by or under these Regulations. Treat the reference to “competent authorities” as a reference to the Bank of England. In paragraph (3), treat the first sub-paragraph as imposing a direct requirement on a digital securities depository to have in place the reporting procedures mentioned in that paragraph.
Article 66	Treat this article as disapplied.