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Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012
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1.In this Article ‘the 2019 Regulations’ means the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019.
2.Part 4 of the 2019 Regulations (specific provision for trade repositories) has effect in relation to a securitisation repository as it has effect in relation to a trade repository.
3.For the purposes of paragraph 2, Part 4 of the 2019 Regulations has effect in relation to a securitisation repository with the following modifications:
(a)ignore Chapter 1 (preliminary);
(b)in Chapter 1A, Chapter 2 and Chapter 3 (application of the 2000 Act for the purposes of this Part), including any modification of the 2000 Act which is made by that Chapter:
(i)a reference to Part 4 of the 2019 Regulations is a reference to that Part as applied by this Article;
(ii)a reference to the 2019 Regulations (other than in a reference to Part 4) is a reference to those Regulations as applied by this Article;
(iii)a reference to the EMIR regulation is a reference to this Regulation and a reference to a provision of that Regulation is a reference to the provision of this Regulation which has equivalent effect;
(iv)a reference to the registration or recognition of a trade repository under a provision of the EMIR regulation is a reference to the registration of a securitisation repository under this Regulation;
(v)a reference to a trade repository is a reference to a securitisation repository within the meaning given by point (23) of Article 2 of this Regulation;
(vi)a reference to trade repository activities is a reference to the activities of centrally collecting and maintaining records of securitisations;
(vii)ignore any reference to the TRATP Regulations; and
(c)in Chapter 3, including any modification of the 2000 Act which is made by that Chapter:
(i)a reference to a provision of the 2019 Regulations is a reference to the equivalent provision of the Securitisation (Amendment) (EU Exit) Regulations 2019;
(ii)in regulation 73 (application of Part 9 of the 2000 Act (hearings and appeals), ignore paragraph (2);
(iia)in regulation 74 (application of Part 9A of the 2000 Act (rules and guidance)), ignore paragraph (3);
(iii)in regulation 78 (application of Part 11 of the 2000 Act (information gathering and investigations)), ignore paragraph (3);
(iv)in regulation 79 (application of Part 26 of the 2000 Act (notices)), ignore paragraphs (3) and (8)(h) and any reference to a supervisory notice.]]
Textual Amendments
F1Regulation revoked (14.12.2023 for the revocation of Art. 46) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 1 (with s. 1(4)) (with savings and transitional provisions in S.I. 2024/104, regs. 52, Sch. 3); S.I. 2023/1382, reg. 2(b)(i)
F2Arts. 13, 13a, 14, 15 substituted for Arts. 13-15 (31.12.2020) by The Securitisation (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/660), regs. 1(2), 15 (as amended by S.I. 2019/1390, regs. 1(4), 12 and S.I. 2020/1385, regs.1(4), 59(4)) (with savings in S.I. 2019/680, reg. 11) ; 2020 c. 1, Sch. 5 para. 1(1)
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