{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2023-digital-securities-sandbox-regulations-2023/regulation-2",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2023-digital-securities-sandbox-regulations-2023/regulation-2.json",
  "legislation": "uksi/2023/1398",
  "legislation_title": "The Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2023-digital-securities-sandbox-regulations-2023",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation",
  "text": "In these Regulations—\n“the Act” means the Financial Services and Markets Act 2023;\n“ancillary FMI activities” means the activities that are referred to in regulation 3(6);\n“appropriate regulator” is to be interpreted in accordance with regulation 3(8);\n“digital securities depository” or “DSD” means, a sandbox entrant permitted to engage in one or more DSS activities referred to in regulation 3(5)(b) as a result of the FMI sandbox arrangements;\n“digital securities sandbox” or “DSS” has the meaning given in regulation 3(1);\n“DSS activities” in relation to a sandbox entrant means the activities approved in the SAN issued to the sandbox entrant;\n“established in the UK” means constituted under the law of any part of the United Kingdom and having, for the duration of the FMI sandbox arrangements, a registered office or a head office in the United Kingdom;\n“FMI sandbox instrument” has the meaning given in regulation 3(7);\n“platform” means a form of market infrastructure, including a type of venue or facility, where FMI activities are performed in the DSS to which a SAN relates;\n“sandbox approval notice” or “SAN” means a notice issued under regulation 5(5);\n“sandbox entrant” means a person that makes an application to participate in the FMI sandbox arrangements and has its application approved under regulation 5(2)(a) or (b); and\n“users” means the persons referred to in regulation 3(4)(a).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 2 in force at 8.1.2024, see reg. 1(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2023/1398/regulation/2",
    "retrieved_at": "2026-10-28T21:36:44.479087+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."
}