Amendment of the 2000 Act
This section has no associated Explanatory Memorandum
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.