The Central Securities Depositories Regulations 2017

Financial Services Act 2012

17.—(1) The Financial Services Act 2012(1) is amended as follows.

(2) In section 68 (cases in which Treasury may arrange independent inquiries), in subsection (3)—

(a) in paragraph (a) for “or a recognised payment system” substitute “, a recognised payment system or a recognised CSD”;

(b) in paragraph (b)(i) after “clearing houses” insert “or central securities depositories”.

(3) In section 83 (interpretation and supplementary provision), in subsection (1), insert at the appropriate place—

““recognised CSD” has the same meaning as in FSMA 2000;”.

(4) In section 85 (relevant functions in relation to complaints scheme), in subsection (3)(a), after “clearing houses” insert “and CSDs”.

(5) In section 110 (payment to Treasury of penalties received by Bank of England), in subsection (5)(b)—

(a) for “and 312F” insert “, 312F and 312FA”;

(b) after “in relation to clearing houses” insert “and central securities depositories”.

(1)

2012 c.21; section 68(3) was amended by the Digital Economy Act 2017 (c.30). Section 85(3) was substituted by paragraph 10 of Schedule 10 to the Financial Services (Banking Reform) Act 2013. There are other amendments to section 85 but none is relevant.