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2. The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (1) are amended in accordance with the following provisions of this Part.
3. In regulation 2, in paragraph (1), for the definition of “the EMIR regulation” substitute—
““the EMIR regulation” has the meaning given in section 313 of the Act;”.
4. In regulation 6—
(a)in paragraph (1)—
(i)in sub-paragraph (b), for “Article 22(1)” substitute “Articles 22 and 25”;
(ii)omit sub-paragraphs (e) and (f);
(b)omit paragraph (2);
(c)in paragraph (3), omit sub-paragraphs (e) to (g);
(d)in paragraph (4), omit sub-paragraphs (a) and (b);
(e)in paragraph (6)—
(i)in sub-paragraph (a), omit “including Article 71(3)”;
(ii)at the end of sub-paragraph (a) insert “and”;
(iii)omit sub-paragraph (c) and the “and” immediately preceding it;
(f)in paragraph (8), in sub-paragraph (b), omit paragraphs (i) and (ii).
5. In regulation 8, in paragraph (3), for “Article 11(6), (7), (8), (9) or (10)” substitute “Article 11(8) or (9)”.
6. In regulation 9, in paragraph (10), at the end of sub-paragraph (a) insert “(but not including a requirement enforceable by the FCA pursuant to paragraph (6)(a) or (b) of that regulation)”.
7. Omit regulations 15B to 19 (Part 7).
8. Omit regulation 55A and insert—
55B. The FCA may grant an exemption in accordance with Article 89a of the EMIR regulation.”.
S.I. 2013/504. Relevant amendments are made by S.I. 2013/1908, 2016/715 and 2017/701.
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