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There are currently no known outstanding effects for the The Securitisation (Amendment) (EU Exit) Regulations 2019, Section 9.
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Prospective
Valid from 31/12/2020
9.—(1) Article 7 is amended as follows.
(2) In paragraph 1—
(a)in the first subparagraph—
(i)in the opening words for “authorities” substitute “ authority ”;
(ii)in point (c) for “where a prospectus has not been drawn up in compliance with Directive 2003/71/EC of the European Parliament and of the Council” substitute “ where section 85 of the 2000 Act (prohibition of dealing etc in transferable securities without approved prospectus) and rules made by the FCA for the purposes of Part 6 of the 2000 Act (official listing) M1 do not require a prospectus to be drawn up ”;
(iii)in point (g)(iv) for “competent authorities have” substitute “ the competent authority has ”;
(b)in the fourth subparagraph for “competent authorities” substitute “ the competent authority ”;
(c)in the sixth subparagraph for “national and Union law” substitute “ the law applicable in the United Kingdom ”; and
(d)in the eighth subparagraph for “Competent authorities referred to in Article 29” substitute “ The competent authority ”.
(3) In paragraph 2, in the third subparagraph for the words from “where no prospectus has to be drawn up in compliance with Directive 2003/71/EC” substitute “ for which section 85 of the 2000 Act and rules made by the FCA for the purposes of Part 6 of the 2000 Act do not require a prospectus to be drawn up ”.
(4) In paragraph 3—
(a)in the first subparagraph for the words from “ESMA,” to “draft regulatory” substitute “ The FCA and the PRA, acting jointly, may make ”; and
(b)omit the second and third subparagraphs.
(5) In paragraph 4—
(a)in the first subparagraph for the words from “ESMA,” to “draft implementing” substitute “ the FCA and the PRA, acting jointly, may make ”; and
(b)omit the second and third subparagraphs.
Commencement Information
I1Reg. 9 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M1These are “prospectus rules”; see section 73A of the Financial Services and Markets Act 2000 (Part 6 Rules), inserted by S.I. 2005/381).
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