PART III MISCELLANEOUS AMENDMENTS OF THE PRINCIPAL ORDER

Specified activities: disapplication of exclusions in relation to investment firms11

In article 4(4)(b) of the principal Order, for “articles 15, 68, 69 and 70” substitute “ articles 15, 16, 19, 22, 23, 29, 38, 68, 69 and 70 ”.

Accepting deposits: sums received in consideration for the issue of debt securities12

For article 9(3) of the principal Order substitute—

3

In paragraph (2), “commercial paper” means an investment of the kind specified by article 77 or 78 having a maturity of less than one year from the date of issue.

Sending dematerialised instructions13

1

In paragraph (1) of article 45 of the principal Order—

a

after “security” insert “ or a contractually based investment ”;

b

for “1995” substitute “ 2001 ”.

2

In paragraph (2) of that article, after “security” insert “ or a contractually based investment ”.

3

In paragraph (3) of that article—

a

for sub-paragraph (a) substitute—

a

“the 2001 Regulations” means the Uncertificated Securities Regulations 2001 M1;

b

in sub-paragraph (b), for “1995” substitute “ 2001 ”.

4

In articles 46, 49 and 69(8) of the principal Order, for “1995” substitute “ 2001 ”.