2021 No. 558
The Capital Requirements Regulation (Amendment) (EU Exit) Regulations 2021
Sift requirements satisfied
Made
Laid before Parliament
Coming into force
The requirements of paragraph 3(2) of Schedule 7 to the European Union (Withdrawal) Act 20181 (relating to the appropriate Parliamentary procedure for these Regulations) have been satisfied.
The Treasury, in exercise of the powers conferred by section 8(1) of the European Union (Withdrawal) Act 2018, make the following Regulations:
Citation, commencement and interpretation1
1
These Regulations may be cited as the Capital Requirements Regulation (Amendment) (EU Exit) Regulations 2021.
2
These Regulations come into force on the twenty second day after the day on which they are laid before Parliament.
3
In these Regulations—
“Capital Requirements Regulation” means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012.
Amendment of the Capital Requirements Regulation2
1
The Capital Requirements Regulation is amended as follows.
2
In Article 493, in paragraph 1—
a
for “26 June 2021” substitute “1 January 2022”, and
b
for “points (5), (6), (7), (9), (10) and (11) of Section C of Annex I to Directive 2014/65/EU” substitute “paragraphs 5, 6, 7, 9, 10 and 11 of Part 1 of Schedule 2 to the Regulated Activities Order”.
3
In Article 498—
a
for “26 June 2021” substitute “1 January 2022”, and
b
for “points (5), (6), (7), (9), (10) and (11) of Section C of Annex I to Directive 2014/65/EU” substitute “paragraphs 5, 6, 7, 9, 10 and 11 of Part 1 of Schedule 2 to the Regulated Activities Order”.
Amendment of the Capital Requirements Regulation (Amendment) (EU Exit) Regulations 20183
Omit regulations 210(2) (transitional provisions for large exposures) and 212 (exemption for Commodities dealers) of the Capital Requirements Regulation (Amendment) (EU Exit) Regulations 20182.
(This note is not part of the Regulations)