SCHEDULE U.K.Minor and consequential amendments to primary and secondary legislation

PART 2 U.K.Minor and consequential amendments to secondary legislation

Financial Services and Markets Act 2000 (Excluded Activities and Prohibitions) Order 2014 U.K.

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

M1 S.I. 2014/2080, amended by S.I. 2016/1032. There are other amendments but none is relevant.