Regulation 8

SCHEDULE 3 U.K. Modifications of Chapter 3A of Part 18 of the Act in relation to recognised auction platforms and EEA market operators of auction platforms

1.  M1 In section 312A — U.K.

(a) in subsection (1), reference to a specified [F1 trading venue] is to be read as including a reference to a specified auction platform;

(b) in subsection (2), reference to a market is to be read as including a reference to an auction platform.

Textual Amendments

F1 Words in Sch. 3 para. 1(a) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 5 para. 14(2) (with reg. 7)

Marginal Citations

M1 Sections 312A to 312D were inserted by S.I. 2007/126, Schedule 2, paragraphs 1 and 15.

2.  In section 312B— U.K.

(a) in subsection (1), reference to a [F2 trading venue] is to be read as including a reference to an auction platform;

(b) in subsection (2), references to the markets in financial instruments directive are to be read as including references to the emission allowance auctioning regulation.

Textual Amendments

F2 Words in Sch. 3 para. 2(a) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 5 para. 14(3) (with reg. 7)

3.  In section 312C— U.K.

(a) in subsection (1), reference to a [F3 trading venue] is to be read as including a reference to an auction platform;

(b) in subsection (5)(b), reference to the third sub-paragraph of Article [F4 53.6] of the markets in financial instruments directive (in the case of relevant arrangements relating to a regulated market) is to be read as including a reference to that provision as applied to auction platforms by Article 35 of the emission allowance auctioning regulation (in the case of arrangements relating to a recognised auction platform).

Textual Amendments

F3 Words in Sch. 3 para. 3(a) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 5 para. 14(4)(a) (with reg. 7)

F4 Word in Sch. 3 para. 3(b) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 5 para. 14(4)(b) (with reg. 7)

4.  In section 312D, the definition of “applicable provision” shall be read as including, in addition to the cases set out in paragraphs (a) and (b)— U.K.

“(c) in the case of arrangements relating to an auction platform, the first sub-paragraph of Article [F5 53.6] of the market in financial instruments directive as applied to auction platforms under Article 35 of the emission allowance auctioning regulation;”.

Textual Amendments

F5 Word in Sch. 3 para. 4 substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 5 para. 14(5) (with reg. 7)