PART 5Amendments in connection with exiting the European Union

Amendments to the Uncertificated Securities Regulations 2001I114

1

The Uncertificated Securities Regulations 2001 are amended as follows.

2

In regulation 3(1) (interpretation), omit paragraph (b) of the definition of Operator.

3

In Schedule 1 (requirements for approval of a person as Operator), in paragraph 5(7)—

a

In paragraph (ba) M1 omit “an EEA central counterparty or ”;

b

In the definition of “depositary” for “a CSD within the meaning of the CSD regulation” substitute “ a CSD or third-country CSD within the meaning of the CSD regulation as amended from time to time ”.