The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019

Conditions for the use of the designation “EuSEF” U.K.

4.—(1) In Article 4—

(a) for “EuSEF” substitute “ SEF ”;

(b) for “across the Union” substitute “ in the United Kingdom ”.

(2) In Article 6, in paragraph 1—

(a) for “Section 1 of Annex II to Directive 2004/39/EC” substitute “ Part 2 of Schedule 1 to the Markets in Financial Instruments Regulation 2014 M1 ”;

(b) for “Section II of Annex II of Directive 2004/39/EC” substitute “ Part 3 of Schedule 1 to the Markets in Financial Instruments Regulation 2014 ”.

(3) In Article 9, in paragraph 5, for “Commission shall be empowered to adopt delegated acts in accordance with Article 26 specifying” substitute “ Treasury may by regulations specify ”.

(4) In Article 10, in paragraph 2, for “Commission shall be empowered to adopt delegated acts in accordance with Article 26 specifying” substitute “ Treasury may by regulations specify ”.

(5) In Article 11—

(a) in paragraphs 3 and 5 (in each place it occurs) for “competent authority of the home Member State”, substitute “ FCA ”;

(b) in paragraph 5—

(i) for “a Member State” substitute “ the United Kingdom ”;

(ii) for “Union law” substitute “ the law of the United Kingdom ”.

(6) In Article 12, omit paragraph 3.

(7) In Article 13—

(a) in paragraph 1, for “competent authority of the home Member State” substitute “ FCA ”;

(b) in paragraph 4, for the words from “Article 4” to “market” substitute “ rule 4.1.3 of the Disclosure Guidance and Transparency Rules sourcebook ”;

(c) omit paragraph 5.

(8) In Article 14—

(a) in paragraph 3, for the words from “Directive” to “trading” substitute “ Part 6 of FSMA ”;

(b) in paragraph 4, for “Commission shall be empowered to adopt delegated acts in accordance with Article 26 specifying” substitute “ Treasury may by regulations specify ”.

Commencement Information

I1 Reg. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(1)

Marginal Citations

M1 Schedule 1 is inserted into the Markets in Financial Instruments Regulation 2014 by the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018.