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The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018

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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018 No. 1320

Notification requirements

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26.—(1) Where a qualifying third-country CSD intends to provide services on the basis of Article 25 of the CSD Regulation in the United Kingdom on or after exit day, it must notify the Bank of England that it intends to do so before exit day.

(2) For the purposes of paragraph (1), the notification must—

(a)be made in such manner, and during such period, and

(b)contain, or be accompanied by, such information,

as the Bank of England may direct.

(3) Section 312E (Public censure) of the Financial Services and Markets Act 2000(1) applies for the purposes of this regulation and is to be read for those purposes as if—

(a)the reference in subsection (1) to a recognised body included a reference to a qualifying third-country CSD; and

(b)in subsection (3), after paragraph (a), there were inserted—

“(aa)the requirement in regulation 26(1) of the Central Securities Depositories (Amendment) (EU Exit) Regulations 2018.”.

(1)

2000 c.8. Section 312E was inserted by the Financial Services Act 2012 (c.21) and amended by S.I. 2017/1064.

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