88. In section 422A(1) (disregarded holdings)—
(a)in subsection (4)—
(i)in paragraph (a)(2), 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)(3), for “Article 2.1(b) of the UCITS Directive” substitute “section 237(2)”;
(e)in subsection (9A)(4), for the words from “Commission” to “financial instruments” substitute “the market abuse regulation and 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”;
(f)omit subsection (10)(5).
Section 422A was substituted by S.I. 2009/534.
Section 422A(4)(a) was amended by S.I. 2017/701.
Section 422A(7) was amended by S.I. 2011/1613.
Section 422A(9A) was inserted by S.I. 2015/1755.
Subsection (10) was amended by S.I. 2012/3115.