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The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

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Section 391 (publication)

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74.—(1) Section 391(1) (publication) is amended as follows.

(2) Omit subsections (7A)(2) and (7B)(3).

(3) In subsection (8A)(4), for “requirement imposed by the CSD regulation or any directly applicable regulation made under the CSD regulation” substitute “CSD requirement”.

(4) After subsection (8A) insert—

(8AA) A “CSD requirement” is a requirement imposed by—

(a)the CSD regulation,

(b)any EU regulation, originally made under the CSD regulation, which is retained direct EU legislation, or

(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the CSD regulation on or after exit day..

(5) In subsection (8B)(5), for “requirement imposed by the market abuse regulation or a directly applicable EU regulation made under the market abuse regulation” substitute “market abuse requirement”.

(6) After subsection (8B) insert—

(8BA) A “market abuse requirement” is a requirement imposed by—

(a)the market abuse regulation,

(b)any EU regulation, originally made under the market abuse regulation, which is retained direct EU legislation, or

(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the market abuse regulation on or after exit day..

(7) In subsection (8D)(6)—

(a)omit the “or” at the end of paragraph (a);

(b)in paragraph (b)—

(i)for “directly applicable regulation” substitute “EU regulation, originally”, and

(ii)at the end insert “which is retained direct EU legislation,”;

(c)after paragraph (b) insert—

or

(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the PRIIPs regulation on or after exit day,.

(8) In subsection (8E)(7), for the words from “imposed by” to “this section” substitute—

imposed by—

(a)the EU Benchmarks Regulation 2016,

(b)any EU regulation, originally made under the EU Benchmarks Regulation 2016, which is retained direct EU legislation, or

(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the EU Benchmarks Regulation on or after exit day,

this section.

(9) Omit subsection (8F)(8).

(1)

Section 391 was amended by sections 13(1) and (3), 24(1) and (2) of, and paragraphs 1 and 28 of Part 1 of Schedule 2 to, the Financial Services Act 2010, sections 24(2) and 37(1) of, and paragraph 1 of Part 1 and paragraphs 30(1), (2), (3), (4)(a), (4)(b), (5), (6), (7), (8) of Part 6 of Schedule 9 to, the Financial Services Act 2012, section 4(3) of the Financial Services (Banking Reform) Act 2013, S.I. 2012/916, 2013/1388, 2013/3115, 2014/2879, 2015/1755, 2016/225, 2016/680, 2016/715, 2017/701, 2017/1127 and 2018/135.

(2)

Subsection (7A) was inserted by S.I. 2012/916 and amended by section 37(1) of, paragraph 1 of Part 1 and paragraphs 30(1) and (8) of Part 6 of Schedule 9 to, the Financial Services Act 2012.

(3)

Subsection (7B) was inserted by S.I. 2012/916 and amended by S.I. 2016/680 and 2017/701.

(4)

Subsection (8A) was inserted by S.I. 2014/2879.

(5)

Subsection (8B) was inserted by S.I. 2016/680.

(6)

Subsection (8D) was inserted by S.I. 2017/1127.

(7)

Subsection (8E) was inserted by S.I. 2018/135.

(8)

Subsection (8F) was inserted by S.I. 2018/1288.

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