- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018, PART 5 is up to date with all changes known to be in force on or before 17 September 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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25. In this Part—
‘qualifying third-country CSD’ means—
any legal entity established in a third country that provides the core service referred to in point (3) of Section A of the Annex to the CSD Regulation, or a service which is similar to such a service; and
performs at least one other core service listed in Section A of the Annex to the CSD Regulation, or a service which is similar to such a service, and which meets one or both of the following conditions:
that immediately before 28 November 2017, the entity provided the services referred to in Article 23 or 25 of the CSD Regulation (as it had effect before [F1IP completion day]) in the United Kingdom (including through a branch in the United Kingdom); and
that the entity was authorised under Article 16 of the CSD Regulation before [F1IP completion day];
‘the CSD Regulation’ means Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories;
‘third country’ means a country other than the United Kingdom.
Textual Amendments
F1Words in reg. 25 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 10(a)
26.—(1) Where a qualifying third-country CSD intends to provide services on the basis of Article 25 of the CSD Regulation in the United Kingdom on or after [F2IP completion day], it must notify the Bank of England that it intends to do so before [F2IP completion day].
(2) For the purposes of paragraph (1), the notification must—
(a)be made in such manner, and during such period, and
(b)contain, or be accompanied by, such information,
as the Bank of England may direct.
(3) Section 312E (Public censure) of the Financial Services and Markets Act 2000 M1 applies for the purposes of this regulation and is to be read for those purposes as if—
(a)the reference in subsection (1) to a recognised body included a reference to a qualifying third-country CSD; and
(b)in subsection (3), after paragraph (a), there were inserted—
“(aa)the requirement in regulation 26(1) of the Central Securities Depositories (Amendment) (EU Exit) Regulations 2018.”.
Textual Amendments
F2Words in reg. 26 substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 10(b)
Marginal Citations
M12000 c.8. Section 312E was inserted by the Financial Services Act 2012 (c.21) and amended by S.I. 2017/1064.
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