The Investment Exchanges, Clearing Houses and Central Securities Depositories (Amendment) (EU Exit) Regulations 2019

Amendment of Part 18, Chapter 4: Interpretation

9.  In section 313 (interpretation of Part 18)(1), in subsection (1)—

(a) omit the definition of “EEA CSD”;

(b) in the definition of “the EMIR regulation”(2), for the words from “reference” to the end, substitute—

“reference to requirements contained in or to functions under the EMIR regulation includes a reference (as the case may be) to requirements contained in or to functions under—

(a) any EU regulation, originally made under the EMIR regulation, which is retained direct EU legislation; or

(b) any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the EMIR regulation on or after exit day;”;

(c) for the definition of “multilateral trading facility” substitute—

““multilateral trading facility” means a UK multilateral trading facility as defined by Article 2(1)(14A) of the markets in financial instruments regulation;”;

(d) for the definition of “organised trading facility” substitute—

““organised trading facility” means a UK organised trading facility as defined by Article 2(1)(15A) of the markets in financial instruments regulation;”;

(e) for the definition of “regulated market” substitute—

““regulated market” means a UK regulated market as defined by Article 2(1)(13A) of the markets in financial instruments regulation;”.

(1)

In subsection (1), the definition of “EEA CSD” was inserted by S.I. 2017/1064; the definition of “the EMIR regulation” was inserted by S.I. 2013/504; the definition of “multilateral trading facility”, and “regulated market” were inserted by S.I. 2007/126 and amended by S.I. 2017/701; the definition of “organised trading facility” was inserted by S.I. 2017/701.

(2)

The definition is amended before exit day by regulation 3(b) of these Regulations.