The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018 No.

PART 3 AMENDMENT AND REVOCATION OF RETAINED DIRECT EU LEGISLATION

CHAPTER 1 AMENDMENT OF THE EMIR REGULATION

Authorisation of a CCP

25.—(1) Article 14 is amended as follows.

(2) In paragraph 1—

(a) for “legal person established in the Union” substitute “body corporate or unincorporated association established in the United Kingdom”;

(b) for “the competent authority of the Member State where it is established” substitute “its competent authority”.

(3) Omit paragraphs 2 and 5.