PART 3 Amendment of retained direct EU legislation

Central securities depositories

15.—(1) In Article 33—

(a) in paragraph 3—

(i) in the third sub-paragraph, for “That” substitute “The”;

(ii) omit the fourth sub-paragraph;

(b) in paragraph 5—

(i) in the first sub-paragraph—

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

(bb) for “competent authorities” substitute “the competent authority”;

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

(c) in paragraph 6—

(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) In Article 34, in paragraph 8, for “Union” substitute “United Kingdom”.