PART 3Amendment of EU delegated legislation

Liquidity management27

1

Before Article 46, omit “(Article 16 of Directive 2011/61/EU)”.

2

In Article 46—

a

for “competent authorities of their home Member State”, substitute “FCA”;

b

for “Article 16(1) of Directive 2011/61/EU” substitute “rule 3.6.3 of the Investment Funds sourcebook”.

3

In Article 47, in paragraph 1(c)—

a

for “Article 16(1) of Directive 2011/61/EU” substitute “rule 3.6.3 of the Investment Funds sourcebook”;

b

for “regulated market within the meaning of point (14) of Article 4(1) of Directive 2004/39/EC” substitute “UK regulated market within the meaning of point (13A) of Article 2(1) of Regulation (EU) No 600/201483”.

4

In Article 49(1), for “Article 16(2) of Directive 2011/61/EU” substitute “rule 3.6.2 of the Investment Funds sourcebook”.