The Central Securities Depositories (Amendment) (EU Exit) Regulations 2018 No. 1320

PART 3 Amendment of retained direct EU legislation

Securities settlement

10.  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.