Paragraph 7 I1

United Kingdom

(1)

This paragraph applies where immediately before the main commencement day—

(a)

a person has a right to make a reference to the Tribunal in respect of any decision of the FCA to refuse—

(i)

registration as a securitisation repository under Article 10 of the EU Securitisation Regulation 2017^f1, or

(ii)

authorisation for the purposes of Article 28 of the EU Securitisation Regulation 2017^f2 to provide a third party verification service, or

(b)

such a reference has been made but not determined.

(2)

These Regulations and the revocation of the EU-derived securitisation legislation do not affect the reference to the Tribunal.

(3)

If the Tribunal refers the matter to the FCA for decision, paragraph 4 or 6 applies in relation to registration or authorisation in accordance with a direction of the Tribunal as it applies in relation to registration or authorisation having effect immediately before the main commencement day.

Annotations

Commencement

I1: Sch. 3 para. 7 in force at 30.1.2024 for specified purposes and 1.11.2024 (the main commencement day) in so far as not already in force, see reg. 2(1)(e)(2)

Footnotes

f1: Article 10 was amended by S.I. 2019/660.
f2: Article 28 was amended by S.I. 2019/660.