PART 3Amendment of retained direct EU legislation
I116
1
In Article 37—
a
in paragraph 2, after “other CSDs” insert “
, third-country CSDs
”
;
b
in paragraph 4—
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 38, in paragraph 5, omit the second sub-paragraph.
3
In Article 39—
a
in paragraph 1—
i
for “Member States” substitute “
The competent authority
”
;
ii
for “point (a) of Article 2 of Directive 98/26/EC” substitute “
regulation 4 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999
”
;
4
In Article 41, omit paragraph 4.