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The Central Securities Depositories Regulations 2017

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This is the original version (as it was originally made).

Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

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23.—(1) The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(1) is amended as follows.

(2) In article 35 (international securities self-regulating organisations), in paragraph (3), after sub-paragraph (ba) insert—

“(bb)the body or association is also not eligible to become an EEA CSD (as defined in section 285(1)(f) of the Act) or a third country CSD (as defined in section 285(1)(g) of the Act);”.

(3) In article 72 (overseas persons) after paragraph (9) insert—

“(9A) Paragraphs (1) to (5) do not apply—

(a)where the overseas person is a central securities depository which provides the services referred to in Article 23(2) or 25(2) of the CSD regulation in the United Kingdom (including through a branch in the United Kingdom); or

(b)where the overseas person is an EEA CSD which provides services in the United Kingdom for which it is not authorised under Article 16 of the CSD regulation.”.

(1)

S.I. 2001/544. Article 35(3)(ba) was inserted by S.I. 2013/504. Article 72 was amended by S.I. 2003/1476, 2006/2383, 2006/3384, 2009/1342, 2013/504, 2015/910 and 2017/488.

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