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The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018

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The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018, Section 7 is up to date with all changes known to be in force on or before 06 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Securities settlementU.K.

This section has no associated Explanatory Memorandum

7.—(1) In Article 3, in paragraph 2—

(a)for “trading venue” substitute “ UK trading venue ”;

(b)after “CSD” insert “ or third-country CSD ” each time it occurs;

(c)omit “as defined in point (a) of Article 2(1) of Directive 2002/47/EC”.

(2) In Article 4—

(a)omit paragraph 1;

(b)for paragraphs 2 and 3 substitute—

2.  The competent authority shall ensure that the first sub-paragraph of Article 3(2) of this Regulation is applied where transferable securities are admitted to trading or traded on UK trading venues.

3.  The competent authority shall ensure that the second sub-paragraph of Article 3(2) of this Regulation is applied where transferable securities admitted to trading or traded on UK trading venues are transferred following a financial collateral arrangement..

Commencement Information

I1Reg. 7 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

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