The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

Section 184 (disregarded holdings) U.K.

49.  M1 In section 184 (disregarded holdings)—

(a) in subsection (4)—

(i) in paragraph (a) M2 , for the words from “article 4.1.7” to “directive” substitute “ article 2.1.6 of the markets in financial instruments regulation ”;

(ii) for paragraph (b), substitute—

“(b) has a Part 4A permission to carry on one or more investment services and activities;”;

(b) in subsection (5), for “credit institution” substitute “ qualifying credit institution ”;

(c) in subsection (6)—

(i) in the opening words and in paragraph (b)), for “credit institution” substitute “ qualifying credit institution ”;

(ii) in paragraph (a)(ii), omit the words from “in accordance with” to the end;

(d) in subsection (7) M3 , for “Article 2.1(b) of the UCITS Directive” substitute “ section 237(2) ”;

(e) in subsection (9A) M4 , for the words from “Commission” to “financial instruments” substitute “ the market abuse regulation and the Commission Delegated Regulation (EU) No. 1052/2016 of 8 March 2016 supplementing Regulation (EU) No. 596/2014 of the European Parliament and the Council with regard to the regulatory technical standards for conditions applicable to buy-back programmes and stabilisation measures ”.

Commencement Information

I1 Reg. 49(e) in force at 23.3.2019, see reg. 1(2)(a)

I2 Regs. 49(a)-(d) in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Marginal Citations

M1 Section 184 was substituted by S.I. 2009/534.

M2 Section 184(4)(a) was substituted by S.I. 2017/701.

M3 Section 184(7) was amended by S.I. 2011/1613.

M4 Section 184(9A) was inserted by S.I. 2015/1755.