The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019

PART 2 Amendment of primary legislation

The Insolvency Act 1986

2.  Omit sections 124B (petition for winding up of SE) and 124C (petition for winding up of SCE) of the Insolvency Act 1986(1).

The Financial Services and Markets Act 2000

3.—(1) The Financial Services and Markets Act 2000(2) is amended as follows.

(2) In section 425(1)(a)(3) (expressions relating to authorisation elsewhere in the single market) omit ““EEA AIFM”,” and ““EEA authorisation”,”.

(3) In Part 1 of Schedule 3(4) (defined terms) omit paragraphs 6 (EEA authorisation) and 11D (EEA AIFM).

Income Tax Act 2007

4.  In section 886 of the Income Tax Act 2007(5) (interest paid by recognised clearing houses etc.), in subsection (3), in the definition of “relevant entity”, omit paragraphs (c) and (f).

Corporation Tax Act 2009

5.  In section 697 of the Corporation Tax Act 2009(6) (exceptions to section 696)—

(a) in subsection (1)(a), omit “, EEA central counterparty”;

(b) in subsection (6), omit “, EEA central counterparty”.

(1)

1986 c.45. Section 124B was inserted by S.I. 2004/2326 and section 124C was inserted by S.I. 2006/2078 and amended by S.I. 2013/496.

(2)

2000 c.8.

(3)

Section 425(1)(a) was substituted by S.I. 2003/2066 and amended by S.I. 2013/1773. There are other amendments but none is relevant.

(4)

Paragraph 6 was substituted by S.I. 2003/1473 and was amended by S.I. 2012/996 and 2018/546. Paragraph 11D was inserted by S.I. 2001/1773.

(5)

2007 c. 3. Section 886 was amended by the Finance Act 2007 (c. 11), paragraph 24 of Schedule 14, and by S.I. 2013/504 and 2017/1064.

(6)

2009 c. 4. Section 697 was amended by the Taxation (International and Other Provisions) Act 2010 (c. 8) paragraph 93 of Schedule 8, and by S.I. 2013/504 and 2017/1064.