The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020

1.—(1) For the text specified in sub-paragraph (2) substitute “forms part of retained EU law”. U.K.

(2) The specified text, for the purposes of sub-paragraph (1), is—

(a) in Article 35A (trade repositories) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(1), “has effect at the beginning of the day on which the Financial Services and Markets Act 2000 (Central Counterparties, Investment Exchanges, Prospectus and Benchmarks) (Amendment) Regulations 2020 are made (but see regulation 2 of the European Union (Withdrawal) Act 2018 (Consequential Modifications and Repeals and Revocations) Regulations 2018, which may further update the reference)”;

(b) in regulation 1(4) (citation, commencement and interpretation) of the Regulated Covered Bonds Regulations 2008(2), “has effect on the day on which the Capital Requirements (Amendment) (EU Exit) Regulations 2019 were made”;

(c) in Article 1(6) (citation, commencement and interpretation) of the Banking Act 2009 (Restriction of Partial Property Transfers) Order 2009(3), “had effect on the day on which the Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 were made”;

(d) in regulation 2(3) (interpretation) of the Capital Requirements Regulations 2013(4), “has effect on the day on which the Capital Requirements (Amendment) (EU Exit) Regulations 2019 were made”;

(e) in regulation 1(3) (citation, commencement and interpretation) of the Capital Requirements (Country-by-Country Reporting) Regulations 2013(5), “has effect on the day on which the Capital Requirements (Amendment) (EU Exit) Regulations 2019 were made”;

(f) in regulation 2(2A) (interpretation) of the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014(6), “has effect on the day on which the Capital Requirements (Amendment) (EU Exit) Regulations 2019 were made”;

(g) in Article 2(2) (interpretation) of the Banking Act 2009 (Banking Group Companies) Order 2014(7), in the definition of “the Capital Requirements Regulation”, “had effect on the day on which the Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 were made”;

(h) in Article 5(1) (set-off and netting: meaning of “derivative”, “financial contract” and “qualifying master agreement”) of the Banking Act 2009 (Restriction of Special Bail-in Provision, etc.) Order 2014(8), “had effect on the day on which the Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 were made”;

(i) in Article 2(4) (interpretation) of the Bank Recovery and Resolution (No. 2) Order 2014(9), “had effect on the day on which the Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019 were made”;

(j) in regulation 2 (interpretation) of the Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016(10), in the definition of “the market abuse regulation”, “has effect on the day on which the Market Abuse (Amendment) (EU Exit) Regulations 2018 are made”;

(k) in the following paragraphs of the Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018(11), “had effect on the day on which the Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394) were made”—

(i) Schedule 1, paragraph 54;

(ii) Schedule 2, paragraph 3(b)(ii);

(iii) Schedule 3, paragraph 1(29);

(iv) Schedule 4, in each of paragraphs 2(2)(c), 4(4)(2)(b) and 7(3);

(l) in regulation 2 (the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017) of the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018(12), in new regulation 2A, “has effect on the day on which the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 are made”;

(m) in regulation 3(2)(b) (Amendment of the Credit Institutions (Reorganisation and Winding up) Regulations 2004) of the Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019(13), in new paragraph (1A), “had effect on the day on which the Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019 were made”.

Commencement Information

I1 Sch. para. 1 in force at 31.12.2020 immediately before IP completion day, see reg. 1(4)

(1)

S.I. 2001/544; Article 35A inserted by S.I. 2013.504, amended by S.I. 2016/715, and to be amended by S.I. 2019/632.

(2)

S.I. 2008/346, as amended by S.I. 2018/1401 and 2019/1232.

(3)

S.I. 2009/322, as amended by S.I. 2019/1212.

(4)

S.I. 2013/3115, as amended by S.I. 2018/1401 and 2019/1232.

(5)

S.I. 2013/3118, as amended by S.I. 2018/1401 and 2019/1232.

(6)

S.I. 2014/894, as amended by S.I. 2018/1401 and 2019/1232.

(7)

S.I. 2014/1831, as amended by S.I. 2019/1212.

(8)

S.I. 2014/3350, as amended by S.I. 2018/1394.

(9)

S.I. 2014/3348, as amended by S.I. 2018/1394 and 2019/1212.

(10)

S.I. 2016/680, as amended by S.I. 2019/310.

(11)

S.I. 2018/1394, as amended by S.I. 2019/1212.

(12)

S.I. 2018/1403.

(13)

S.I. 2019/38, amended by S.I. 2019/405.