Regulation 10 Regulation 16 (persons eligible to apply for admission to bid)

(1)

Regulation 16 is amended as follows.

(2)

In paragraph (1)—

(a)

after sub-paragraph (b), insert—

“(ba)
investment firms which—

(i)
satisfy the condition in sub-paragraph (b)(i); and

(ii)
are authorised under Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments as amended from time to time;”;

(b)

in sub-paragraph (c)—

(i)

in the opening words, after “institution” insert “which”;

(ii)

in paragraph (i), at the beginning, omit “which”;

(c)

after sub-paragraph (c), insert—

“(ca)
a credit institution which—

(i)
satisfies the condition in sub-paragraph (c)(i); and

(ii)
is authorised under Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms as amended from time to time;”.

(3)

In paragraph (2), for “they are established” substitute “the registered office, or if it has no registered office, the head office, of the person covered by that exemption is situated”.