Financial Services and Markets Act 2023

17 Interpretation U.K.

(1) This section applies for the purposes of this section and sections 13 to 16.

(2) The “appropriate regulator”, in relation to an FMI sandbox, means the regulator specified in that sandbox as the appropriate regulator (and both of the regulators may be specified); and for this purpose “regulator” means—

(a) the FCA, or

(b) the Bank of England.

(3) “Relevant enactment” means any provision made by or under—

(a) FSMA 2000;

(b) the Companies Act 2006;

[F1 (ba) the Stock Transfer (Gilt-edged Securities) (CGO Service) Regulations 1985 (S.I. 1985/1144);]

(c) the Financial Markets Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979);

(d) the Uncertificated Securities Regulations 2001 (S.I. 2001/3755);

(e) the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226);

[F2 (ea) the Government Stock Regulations 2004 (S.I. 2004/1611);

(eb) the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692);]

(f) Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation);

(g) Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments;

(h) Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories;

(i) Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive;

[F3 (j) Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC.]

(4) The following terms are defined as follows—

• “FMI activities” has the meaning given by section 13(11)(b);

• “FMI entity” has the meaning given by section 13(11)(a);

• “FMI sandbox” has the meaning given by section 13(3);

• “FMI sandbox arrangements” has the meaning given by section 13(11)(c);

• “this group of sections” means the sections referred to in subsection (1).

(5) The following terms have the same meanings as in Part 18 of FSMA 2000—

• “multilateral trading facility”;

• “organised trading facility”;

• “overseas investment exchange”;

• “recognised investment exchange”;

• “recognised CSD”.

(6) The Treasury may by regulations amend subsection (3) so as to add to the list of relevant enactments.

(7) Regulations under subsection (6) are subject to the affirmative procedure.

Textual Amendments

F1 S. 17(3)(ba) inserted (17.12.2024) by The Financial Services and Markets Act 2023 (Addition of Relevant Enactments) Regulations 2024 (S.I. 2024/1347), regs. 1(2), 2(2)(a)

F2 S. 17(3)(ea)(eb) inserted (17.12.2024) by The Financial Services and Markets Act 2023 (Addition of Relevant Enactments) Regulations 2024 (S.I. 2024/1347), regs. 1(2), 2(2)(b)

F3 S. 17(3)(j) inserted (17.12.2024) by The Financial Services and Markets Act 2023 (Addition of Relevant Enactments) Regulations 2024 (S.I. 2024/1347), regs. 1(2), 2(2)(c)

Commencement Information

I1 S. 17 not in force at Royal Assent, see s. 86(3)

I2 S. 17 in force at 29.8.2023 by S.I. 2023/779, reg. 4(l)