PART 3Amendment of retained direct EU legislation

Amendment of the SFT regulation16

In Article 13—

a

in paragraph (1)—

i

in point (a), for “Article 68 of Directive 2009/65/EC” substitute “section 4.5.3 of the Collective Investment Schemes sourcebook”;

ii

in point (b), for “Article 22 of Directive 2011/61/EU” substitute “section 3.3 of the Investment Funds sourcebook”;

b

in paragraph (3)—

i

in the first subparagraph—

aa

for “Directives 2009/65/EC and 2011/61/EU” substitute “the UK law in relation to collective investment undertakings”;

bb

for “develop draft regulatory” substitute “make”;

ii

omit the second subparagraph.