15.—(1) In Article 11 (qualifying portfolio undertaking), paragraph 1 is amended as follows.
(2) In point (b)—
(a)after “trading on a” in both places insert “UK regulated market or an EU”;
(b)after “or on a” in both places insert “UK multilateral trading facility or an EU”.
(3) In point (c)—
(a)after “established in” insert “the United Kingdom or”;
(b)for the words from “home” to “marketed” substitute “United Kingdom”.