The Financial Services (Consequential Amendments) Regulations 2020

The Central Counterparties (Amendment, etc, and Transitional Provisions) (EU Exit) Regulations 2018

7.—(1) The Central Counterparties (Amendment, etc, and Transitional Provisions) (EU Exit) Regulations 2018(1) is amended as follows.

(2) In the following provisions and, where applicable, headings, for the words “exit day”, wherever they occur, substitute “IP completion day”—

(a) regulation 12 (application for deemed recognition pursuant to Article 25 of the EMIR Regulation);

(b) regulation 13 (deemed recognition pursuant to Article 25 of the EMIR Regulation);

(c) regulation 14 (power to make regulations in respect of third countries’ regulatory frameworks before exit day);

(d) regulation 15 (Bank’s power to advise Treasury on regulatory equivalence of central counterparties);

(e) regulation 16 (cooperation arrangements between the Bank of England and the competent authorities of third countries before exit day);

(f) regulation 17 (eligibility for temporary deemed recognition);

(g) regulation 18 (temporary deemed recognition period);

(h) regulation 19 (cessation of temporary deemed recognition);

(i) regulation 19B (relevant period for the purposes of regulation 19A).

(1)

S.I. 2018/1184, amended by S.I. 2019/405.