Regulation 11 Amendment of the Child Trust Funds Regulations 2004

omit the definitions of “EEA Agreement” and “EEA State”^f1;

for the definition of “European institution”^f2 substitute—

• ““European institution” means—

  1. (a)

     a person who is treated as having permission to carry on a regulated activity in the United Kingdom under Part 4A of the Financial Services and Markets Act 2000^f3 by regulation 8, 11, 28 or 34 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018^f4; or

  2. (b)

     an EEA firm (within the meaning of Article 2(3G) of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001^f5 of the kind mentioned in paragraph 5(a) to (d), (f) and (h) of Schedule 3 to the Financial Services and Markets Act 2000^f6 which is an authorised person for the purposes of that Act as a result of qualifying for authorisation under paragraph 12(1) to (4) and (7) of that Schedule.”; and

for the definition of “recognised UCITS”^f7 substitute—

• ““recognised UCITS” means—

  1. (a)

     a UCITS within the meaning given by section 236A of the Financial Services and Markets Act 2000^f8; or

  2. (b)

     an undertaking established in Gibraltar which is a UCITS under the law of Gibraltar implementing Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities^f9.”.