The Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010

Statutory Instruments

2010 No. 2993

Financial Services And Markets

The Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010

Made

15th December 2010

Laid before Parliament

16th December 2010

Coming into force

6th April 2011

The Treasury are a government department designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to measures—

(i)

relating to investment firms and to the provision of investment services and to the operation of regulated markets and clearing or settlement systems;

(ii)

relating to payment systems; and

(iii)

relating to the provision of cash, securities and interests in securities as collateral, and to collateral security provided to the central banks of Member States or to the European Central Bank.

These Regulations make provision for a purpose mentioned in section 2(2) of the European Communities Act 1972 and it appears to the Treasury that it is expedient for the reference to Council Regulation (EC) No. 44/2001 of 22nd December 2000 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters to be construed as a reference to that instrument as amended from time to time.

The Treasury make these Regulations in exercise of the powers conferred by section 2(2) of, and paragraph 1A of Schedule 2 to, the European Communities Act 1972(3)

(1)

S.I. 1993/2661, S.I. 1998/2793 and S.I. 2003/1888.

(2)

1972 c. 68. Section 2(2), and Schedule 2 to the 1972 Act were amended by section 27 of the Legislative and Regulatory Reform Act 2006 (c.51); and by section 3 of, and the Schedule to, the European Union (Amendment) Act 2008 (c. 7).

(3)

Paragraph 1A of Schedule 2 was inserted by section 28 of the Legislative and Regulatory Reform Act 2006 (2006 c.51).