The Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018 No. 1184

PART 2 Amendment of primary legislation

Amendment of the 2000 Act

3.—(1) Section 285 (exemption for recognised bodies) is amended as follows.

(2) In subsection (1)—

(a) omit paragraph (c)(1); and

(b) for paragraph (d)(2) 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)(3).

(4) In subsection (3C)(4), for “ESMA” substitute “the Bank of England”.

(1)

Paragraph (c) was substituted by S.I. 2013/504 and amended by S.I. 2017/1064.

(2)

Paragraph (d) was substituted by S.I. 2013/504.

(3)

Subsection (3B) was inserted by S.I. 2013/504.

(4)

Subsection (3C) was inserted by S.I. 2013/504.