Cessation of temporary designation2
1
The Financial Markets and Insolvency (Amendment and Transitional Provision) (EU Exit) Regulations 20192 are amended as follows.
2
In regulation 16(2) at the beginning insert, “Subject to regulation 17,”.
3
For regulation 17(2) substitute—
2
The first condition is that—
a
P has not submitted an application under regulation 3(1) of the 1999 Regulations by the end of the period of 6 months beginning on the day after IP completion day; and
b
a period of 2 years and 6 months has passed since IP completion day.