- Deddfwriaeth Ddrafft
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018 No. 1320
2.—(1) The Central Securities Depositories Regulations 2014(1) are amended as follows.
(2) In regulation 1, in paragraph (2)—
(a)in the definition of “credit institution”, for “Article 8 of Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms” substitute “Part 4A of the Act(2)”;
(b)omit the definition of “EEA CSD”.
(3) In regulation 2(3)—
(a)in paragraph (1), for “Article 5 of the markets in financial instruments directive” substitute “Part 4A of the Act”;
(b)in paragraph (2)—
(i)in sub-paragraph (a), omit “referred to in the first sub-paragraph of Article 11(1) of the CSD regulation”;
(ii)in sub-paragraph (aa)—
(aa)omit “host Member State”;
(bb)omit “EEA CSDs and”;
(iii)in sub-paragraph (b), omit “Article 12(1)(a) of”;
(c)omit paragraph (3).
(4) In regulation 5L, in paragraph (1)—
(a)omit sub-paragraph (d);
(b)in sub-paragraph (h), for “CSD authorised in the Union” substitute “CSD or third-country CSD”;
(c)in sub-paragraph (j), after “CSD” insert “or third-country CSD”;
(d)in sub-paragraphs (k) and (l), for “55(5)” substitute “55(3)”.
(5) In regulation 5N, for “directly applicable EU regulation” substitute “retained EU law”.
(6) In regulation 10, omit paragraph (2)(4).
3.—(1) The Central Securities Depositories Regulations 2017(5) are amended as follows.
(2) In regulation 7—
(a)in paragraph (2)(a), for “directly applicable EU regulation” substitute “retained EU law”;
(b)in paragraph (5)(b), for “directly applicable EU regulation” substitute “retained EU law”.
(3) In regulation 8—
(a)omit paragraph (2);
(b)in paragraph (3)—
(i)for “an EEA State” substitute “the United Kingdom”;
(ii)for “69(3)” substitute “69(1)” each time it occurs;
(c)in paragraph (5), at the end, insert “or which immediately before exit day was authorised under Article 16 of the CSD regulation”.
2000 c.8. Part 4A was inserted by section 11 of the Financial Services Act 2012 (c.21.).
Regulation 2 was amended by S.I. 2017/1064.
Paragraph (2) was amended by S.I. 2017/1064.
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
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