The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 No. 325

PART 3 U.K. Amendments of the Undertakings for Collective Investment in Transferable Securities Regulations 2011

Depositary liability for loss of financial instruments held in custody U.K.

43.  In regulation 15C, in paragraph (1)—

(a) for “Article 22.5(a) of the UCITS directive” substitute “ rule 6.6B.18 of the Collective Investment Schemes sourcebook ”;

(b) for “any directly applicable regulation made under Article 26b(f) of the UCITS directive” substitute “ Article 18 of Commission Delegated Regulation (EU) 2016/438 of 17 December 2015 supplementing Directive 2009/65/EC of the European Parliament and of the Council with regard to obligations of depositaries ”.

Commencement Information

I1 Reg. 43 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)