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The Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018
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The Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018, PART 2 is up to date with all changes known to be in force on or before 10 November 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.
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PART 2U.K.Amendment of primary legislation
Amendment of the 2000 ActU.K.
2. The 2000 Act is amended as follows.
Commencement Information
I1Reg. 2 in force at 31.12.2020, see reg. 1(2); 2020 c. 1, Sch. 5 para. 1(1)
3.—(1) Section 285 (exemption for recognised bodies) is amended as follows.
(2) In subsection (1)—
(a)omit paragraph (c) M1; and
(b)for paragraph (d) M2 substitute—
“(d)“third country central counterparty” means a person established in a country other than the United Kingdom who has been recognised by the Bank of England as a central counterparty pursuant to Article 25 of the EMIR Regulation;”.
(3) Omit subsection (3B) M3.
(4) In subsection (3C) M4, for “ESMA” substitute “ the Bank of England ”.
Commencement Information
I2Reg. 3 in force at 31.12.2020, see reg. 1(2); 2020 c. 1, Sch. 5 para. 1(1)
Marginal Citations
M1Paragraph (c) was substituted by S.I. 2013/504 and amended by S.I. 2017/1064.
M2Paragraph (d) was substituted by S.I. 2013/504.
M3Subsection (3B) was inserted by S.I. 2013/504.
M4Subsection (3C) was inserted by S.I. 2013/504.
4. In section 292(6) (overseas clearing houses) M5, omit “authorised as an EEA central counterparty or”.
Commencement Information
I3Reg. 4 in force at 31.12.2020, see reg. 1(2); 2020 c. 1, Sch. 5 para. 1(1)
Marginal Citations
M5Section 292(6) was inserted by S.I. 2013/504.
5. In Schedule 17A (further provision in relation to the exercise of Part 18 functions by Bank of England) M6—
(a)in paragraph 22, after “recognised clearing house” insert “ , third country central counterparty ”;
(b)in paragraph 32, after “recognised clearing houses,” insert “ third country central counterparties, ”;
(c)in paragraph 33, in sub-paragraph (a), after “recognised clearing houses,” insert “ third country central counterparties, ”; and
(d)in paragraph 36, in sub-paragraph (1), omit “EEA central counterparties,”.
Commencement Information
I4Reg. 5 in force at 31.12.2020, see reg. 1(2); 2020 c. 1, Sch. 5 para. 1(1)
Marginal Citations
M6Schedule 17A was inserted by the paragraph 1 of Schedule 7 to the Financial Services Act 2012 (c. 21). Paragraphs 22, 32 and 33 were amended by S.I. 2017/1064. Paragraph 36 was amended by the S.I. 2013/504 and S.I. 2017/1064.
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