PART 4Transitional provisions and review
Transitional provisions: interpretation10
In this regulation and in regulations 11 and 12—
“the Act” means the Financial Services and Markets Act 2000;
“CSD Operator” means a person established in the United Kingdom who immediately before 30th March 2017—
- a
was an Operator approved under the Uncertificated Securities Regulations 2001,
- b
operated a securities settlement system referred to in point (3) of Section A of the Annex to the CSD regulation in the United Kingdom, and
- c
provided at least one other core service listed in Section A of that Annex in the United Kingdom;
- a
“commencement” means the coming into force of this Part of these Regulations;
“CSD regulation” means Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23rd July 2014 on improving securities settlement in the European Union and on central securities depositories;
“Operator register of securities” has the meaning given in regulation 3 of the Uncertificated Securities Regulations 2001;
“recognised CSD” has the meaning given in section 285 of the 2000 Act.