PART 2Amendment of primary legislation
Amendment of the 2000 ActI12
The 2000 Act is amended as follows.
I23
1
Section 285 (exemption for recognised bodies) is amended as follows.
2
In subsection (1)—
a
omit paragraph (c) M1; and
b
for paragraph (d) M2 substitute—
d
“third country central counterparty” means a person established in a country other than the United Kingdom who has been recognised by the Bank of England as a central counterparty pursuant to Article 25 of the EMIR Regulation;
3
Omit subsection (3B) M3.
4
In subsection (3C) M4, for “ESMA” substitute “
the Bank of England
”
.
I34
In section 292(6) (overseas clearing houses) M5, omit “authorised as an EEA central counterparty or”.
I45
In Schedule 17A (further provision in relation to the exercise of Part 18 functions by Bank of England) M6—
a
in paragraph 22, after “recognised clearing house” insert “
, third country central counterparty
”
;
b
in paragraph 32, after “recognised clearing houses,” insert “
third country central counterparties,
”
;
c
in paragraph 33, in sub-paragraph (a), after “recognised clearing houses,” insert “
third country central counterparties,
”
; and
d
in paragraph 36, in sub-paragraph (1), omit “EEA central counterparties,”.