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The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019, Section 29 is up to date with all changes known to be in force on or before 01 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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29.—(1) Article 32 (recognition of an administrator located in a third country) is amended as follows.
(2) In paragraph 1—
(a)for the words from “an equivalence” to “adopted” substitute “ regulations are made in accordance with Article 30(2) or (3) ”;
(b)for “Union” substitute “ United Kingdom ”;
(c)for “competent authority of its Member State of reference” substitute “ FCA ”.
(3) In paragraph 2, in the second subparagraph, for “competent authority of the Member State of reference” substitute “ FCA ”.
(4) In paragraph 3—
(a)for “its Member State of reference” substitute “ the United Kingdom ”;
(b)for “Union”, both times it occurs, substitute “ United Kingdom ”;
(c)for “competent authority of the Member State of reference” substitute “ FCA ”.
(5) Omit paragraph 4.
(6) In paragraph 5—
(a)in the first subparagraph—
(i)for “competent authority of its Member State of reference” substitute “ FCA ”;
(ii)for “satisfy the competent authority” substitute “ satisfy the FCA ”;
(iii)for “Union” substitute “ United Kingdom ”;
(b)in the second subparagraph—
(i)for “competent authority” substitute “ FCA ”;
(ii)for “2, 3 and 4” substitute “ 2 and 3 ”;
(c)in the third subparagraph—
(i)in the first sentence—
(aa)for “competent authority” substitute “ FCA ”;
(bb)for “2, 3 and 4” substitute “ 2 and 3 ”;
(ii)in point (a)—
(aa)for “competent authority of the Member State of reference” substitute “ FCA ”;
(bb)for “regulatory technical standards adopted” substitute “ technical standards made ”;
(cc)for “allows the competent authority” substitute “ allows the FCA ”;
(iii)in point (b), for “competent authority” substitute “ FCA ”.
(7) Omit paragraphs 6 and 7.
(8) In paragraph 8, for “competent authority of the Member State of reference” substitute “ FCA ”.
(9) In paragraph 9—
(a)in the first subparagraph—
(i)for “ESMA may develop draft regulatory” substitute “ The FCA may make ”;
(ii)omit the words from “and, in particular,” to the end;
(b)omit the second and third subparagraphs.
Commencement Information
I1Reg. 29 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
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