41.—(1) The Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014 M1 is amended as follows.
(2) In article 1 (interpretation), in paragraph (4), in paragraph (d) of the definition of “payment exposures”—
(a)for “or a third country central counterparty” substitute “ , a third country central counterparty, a recognised CSD, an EEA CSD or a third country CSD ”;
(b)for “or third country central counterparty” substitute “ , third country central counterparty, recognised CSD, EEA CSD or third country CSD ”.
(3) In article 2 (relevant financial institutions), in paragraph (3), after sub-paragraph (e) insert—
“(ea)recognised CSDs, EEA CSDs and third country CSDs;”.
(4) In article 6 (excluded activities: general exceptions), in paragraph (4)(e)—
(a)omit “or” at the end of paragraph (ii);
(b)after paragraph (iii) insert—
“or
(iv)a recognised CSD, an EEA CSD or a third country CSD where ownership of such shares is a condition of membership of any such body;”.
Marginal Citations
M1S.I. 2014/2080, amended by S.I. 2016/1032. There are other amendments but none is relevant.