PART 2Amendment of primary legislation

Part 7 of the Companies Act 1989I12

1

The Companies Act 1989 M1 is amended as follows.

2

In section 170A M2 (EEA central counterparties and third country central counterparties)—

a

in the heading, for “EEA central counterparties and third” substitute “ Third ”;

b

in subsection (1)—

i

omit paragraphs (b) and (c);

ii

in paragraph (e), for “an EEA central counterparty or” substitute “ a ”;

c

in subsection (2), omit “an EEA central counterparty or”;

d

in subsection (3)—

i

in subsection (1) of the substituted section 157 (change in default rules), for “ An EEA central counterparty or a ” substitute “A”;

ii

in subsection (3) of the substituted section 157, for “ an EEA central counterparty or ” substitute “, a”;

e

in subsection (4), omit “an EEA central counterparty or”;

f

in subsection (5), for “an EEA central counterparty or” substitute “ a ”.

3

In section 170B M3 (EEA central counterparties and third country central counterparties: procedure)—

a

in the heading, for “EEA central counterparties and third” substitute “ Third ”;

b

in subsection (1), for “An EEA central counterparty or” substitute “ A ”;

c

in subsections (5), (9), and (10) omit “EEA central counterparty or” in each place it occurs;

d

in subsection (11), omit “, the EBA or ESMA”.

4

In section 170C M4 (EEA CSDs and third country CSDs)—

a

in the heading, for “EEA CSDs and third” substitute “ Third ”;

b

omit “an EEA CSD or ” in each place it occurs.

5

In section 176(2)(aa) M5 (power to make provision about certain other charges), omit “an EEA CSD or”.

6

In section 183(3) M6 (insolvency proceedings in other jurisdictions), omit the words “or Regulation” to the end.

7

In section 190(1) M7 (minor definitions), in the definition which begins “EEA CSD”—

a

omit “ “EEA CSD”,”;

b

before “and” insert “ , “third country central counterparty” ”.

8

In section 191 M8 (index of defined expressions), in the table—

a

omit the entry for “EEA CSD”;

b

insert at the appropriate place—

third country central counterparty

Section 190(1)