The Taxes (Amendments) (EU Exit) Regulations 2019

The Authorised Investment Funds (Tax) Regulations 2006

28.—(1) The Authorised Investment Funds (Tax) Regulations 2006(1) are amended as follows.

(2) In regulation 14ZD—

(a) in paragraph (3)(b) for “a competent authority for the United Kingdom” substitute “the Financial Conduct Authority(2)”;

(b) in paragraph (6)—

(i) omit sub-paragraph (a) (and the “and” immediately after it);

(ii) for sub-paragraph (b) substitute—

“(b) “regulated market” means—

(i) a UK regulated market within the meaning given by Article 2.1(13A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments(3),

(ii) an EU regulated market within the meaning given by Article 2.1(13B) of that Regulation, and

(iii) a regulated market within the meaning given by Article 2.1(13) of that Regulation which is authorised and functions regularly and in accordance with Part 3 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar(4).”.

(1)

S.I. 2006/964, relevant amending instrument are S.I. 2011/2192, S.I. 2017/701.

(2)

See section 1A of the Financial Services and Markets Act 2000 (c. 8).

(3)

Regulation (EU) No 600/2014 is amended by S.I. 2018/1403 with effect from exit day.

(4)

L.N. 2017/135.