25. In section 1261 (minor definitions)—
(a)in subsection (1)—
(i)omit the definition of “the Audit Directive”M1;
(ii)in the definition of “audit working papers and investigation reports”M2, in paragraphs (a), (b) and (c) omit “, an EEA auditor”;
(iii)omit the definitions of “EEA auditor” and “EEA competent authority”M3;
(iv)after the definitions of “parent undertaking” and “subsidiary undertaking”, insert—
““regulated market” has the meaning given in Article 2(1)(13) of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 and amending Regulation (EU) No. 648/2012 M4;”;
(v)in the definition of “third country”M5, for “that is not an EEA State or part of an EEA State” substitute “ other than the United Kingdom ”;
(vi)in the definition of “third country auditor”, omit “an EEA auditor or”;
(vii)after the definition of “transfer”M6, insert—
““transferable securities” has the meaning given in Article 2(1)(24) of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 and amending Regulation (EU) No. 648/2012;
“UK regulated market” has the meaning given in Article 2(1)(13A) of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 and amending Regulation (EU) No. 648/2012;”;
(b)omit subsection (2A) M7.
Commencement Information
I1Reg. 25 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2
Marginal Citations
M1The definition of “the Audit Directive” was inserted by regulation 2(2) of S.I. 2007/3494.
M2The definition of “audit working papers” was inserted by regulation 2(2) of S.I. 2007/3494 and substituted to “audit working papers and investigation reports” by paragraph 51(2)(a) of Schedule 3 to S.I. 2016/649.
M3The definitions “EEA auditor” and “EEA competent authority” were inserted by regulation 2(2) of S.I. 2007/3494.
M4OJ No. L 173 12.06.2014, p. 84.
M5The definition of “third country” was inserted by regulation 2(2) of S.I. 2007/3494.
M6The definition of “transfer” was inserted by regulation 6(4) of S.I. 2010/2537, and amended by paragraph 51(2)(e) of Schedule 3 to S.I. 2016/649.
M7Section 1261(2A) was inserted by regulation 2(3) of S.I. 2007/3494.