PART 3Amendment of retained direct EU legislation

Securities settlement10

In Article 9—

a

in paragraph 1—

i

in the first sub-paragraph, for “competent authorities of their place of establishment” substitute “competent authority”;

ii

omit the second sub-paragraph;

b

in paragraph 2—

i

in the first sub-paragraph, for the words from the beginning to “develop draft” substitute “The Bank of England may make”;

ii

omit the second sub-paragraph;

c

in paragraph 3—

i

for “ESMA shall develop draft” substitute “The Bank of England may make”;

ii

omit the second and third sub-paragraphs.