The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 No. 1385

PART 5 U.K. Amendment of secondary legislation

The Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018 U.K.

44.—(1) The Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018(1) are amended as follows.

(2) In regulation 1(4) (interpretation), in the definition of “the EMIR Regulation”, for “last amended by Regulation (EU) 2019/2099 of the European Parliament and of the Council of 23 October 2019” substitute “it forms part of retained EU law”.

(3) After regulation 9 (revocation of implementing acts made under Article 25.6 of the EMIR Regulation), insert—

“Revocation of delegated acts made under Articles 25.2a, 25a.3 or 25d.3 of the EMIR Regulation

9A.   Any delegated acts which have been adopted by the European Commission under Articles 25.2a, 25a.3 or 25d.3 of the EMIR Regulation and are in force immediately before IP completion day are revoked.”.

(4) In regulation 19(6) (cessation of temporary deemed recognition), for “6 months” substitute “18 months”.

Commencement Information

I1 Reg. 44 in force at 31.12.2020 immediately before IP completion day, see reg. 1(4)

(1)

S.I. 2018/1184, as amended by S.I 2020/646.