The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013

The Uncertificated Securities Regulations 2001

73.  In the Uncertificated Securities Regulations 2001(1)—

(a) in regulation 3(1) (interpretation), omit the definition of “the Authority”;

(b) in regulation 9(injunctions and restitution orders)—

(i) in paragraph (7), for “the Authority” substitute “the appropriate regulator”,

(ii) after paragraph (12) insert—

“(13) In this regulation, the “appropriate regulator” means whichever of the Prudential Regulation Authority or the Financial Conduct Authority is the appropriate regulator under

section 382(2) of the 2000 Act.”;

(c) in paragraph 28(4) of Schedule 1 (requirements for approval of a person as operator: access to central counterparty, clearing and settlement facilities) for the definition of “UK firm” substitute—

““UK firm” means an investment firm or credit institution which has a permission given (or having effect as if given) by the Financial Conduct Authority or the Prudential Regulation Authority under Part 4A of the 2000 Act to carry on one or more regulated activities.”.

(1)

S.I. 2001/3755, amended by S.I. 2001/3755, S.I. 2007/124, S.I. 2010/2628 and S.I. 2012/917.

(2)

Section 382 of FSMA 2000 was amended by S.I. 2007/126, S.I. 2011/1613, S.I. 2012/1906, S.I. 2012/2554 and by paragraph 21 of Schedule 9 to the Financial Services Act 2012.