InterpretationU.K.
This section has no associated Explanatory Memorandum
2. For the purpose of this Part—
(a)the “appropriate regulator” in relation to—
(i)the EU Regulations specified in Part 1 of the Schedule, is the FCA;
(ii)the EU Regulations specified in Part 2 of the Schedule, is the PRA;
(iii)the EU Regulations specified in Part 3 of the Schedule, is the Bank of England;
(iv)the EU Regulations specified in Part 4 of the Schedule, is both the FCA and the PRA;
(v)the EU Regulations specified in Part 5 of the Schedule, is both the FCA and the Bank of England;
(vi)the EU Regulation specified in Part 6 of the Schedule, is the Payment Systems Regulator;
(vii)EU-derived provisions, means whichever of the FCA, the PRA or the Bank of England made the provisions,
and for the purposes of this paragraph, reference to EU Regulations includes a reference to part of an EU Regulation;
(b)“authorised persons” and “PRA-authorised persons” have the meaning given in sections 31(2) and 2B(5) respectively of the Financial Services and Markets Act 2000 ;
(c)“central counterparty” has the meaning given in section 313 of the Financial Services and Markets Act 2000 ;
(d)“central securities depository” has the meaning given in section 417 of the Financial Services and Markets Act 2000 ;
(e)“the EMIR regulation” means Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories [as last amended by Regulation (EU) 2019/2099 of the European Parliament and of the Council of 23 October 2019];
(f)“EU-derived provisions” means rules and other enactments made by the FCA, the PRA or the Bank of England which fall within the definition of “EU-derived domestic legislation” within the meaning of section 2(2) of the European Union (Withdrawal) Act 2018;
(g)“EU Exit instrument” means an instrument in writing made in accordance with regulation 3(1);
(h)“FCA” means the Financial Conduct Authority;
(i)“PRA” means the Prudential Regulation Authority;
(j)“Payment Systems Regulator” means the body established under section 40 of the Financial Services (Banking Reform) Act 2013 ;
(k)“regulators” mean the FCA, the PRA, the Bank of England and the Payment Systems Regulator;
(l)“specified EU Regulations” mean the EU Regulations or parts of EU Regulations forming part of retained EU law which are specified in the Schedule;
(m)a person is connected with another person in the circumstances set out in section 165(11) of the Financial Services and Markets Act 2000 .
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