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10.—(1) In the 2001 Order, the following definition is inserted before the definition of a “UK recognised investment exchange” in article 3 —
““regulated market” has the meaning given in Article 1(13) of the investment services directive;”.
(2) In the 2001 Order, for articles 4, 4A and 5 substitute—
4.—(1) There are prescribed, as markets to which subsections (2), (3), (5), (6) and (7) of section 118 apply—
(a)all markets which are established under the rules of a UK recognised investment exchange,
(b)the market known as OFEX,
(c)all other markets which are regulated markets.
(2) There are prescribed, as markets to which subsections (4) and (8) of section 118 apply—
(a)all markets which are established under the rules of a UK recognised investment exchange;
(b)the market known as OFEX.
5. There are prescribed, as qualifying investments in relation to the markets prescribed by article 4, all financial instruments within the meaning given in Article 1(3) of Directive 2003/6/EC of the European Parliament and the Council of 28 January 2003 on insider dealing and market manipulation (market abuse)(1).”.
O.J. L 96, 12.4.2003, p.16; applied to the EEA by Joint Committee Decision 38/2004 of 23 April 2004 (not yet published in the Official Journal of the European Communities).
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