The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018 No. 1320

PART 3 U.K. Amendment of retained direct EU legislation

12.—(1) In Article 22—

(a) in paragraph 3, for “Directive 2014/59/EU” substitute “ the Bank Recovery and Resolution (No.2) Order 2014 M1 ”;

(b) omit paragraphs 6 to 8;

(c) in paragraph 10—

(i) in the first sub-paragraph—

(aa) for the words from the beginning to “develop draft” substitute “ The Bank of England may make ”;

(bb) omit points (b) and (c);

(ii) omit the second and third sub-paragraphs;

(d) in paragraph 11—

(i) in the first sub-paragraph, for the words from the beginning to “develop draft” substitute “ The Bank of England may make ”;

(ii) omit the second and third sub-paragraphs.

(2) Omit Articles 23 and 24.

Commencement Information

I1 Reg. 12 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Marginal Citations

M1 S.I. 2014/3348.