The Financial Services and Markets Act 2000 (Qualifying Provisions) ( No. 2) Order 2013

Citation, commencement and interpretation U.K.

1.—(1) This Order may be cited as the Financial Services and Markets Act 2000 [F1 (Qualifying Provisions)] (No. 2) Order 2013 and comes into force on 1st January 2014.

(2) For the purposes of this Order—

“the CRA Regulation” means Regulation 1060/2009/EC of the European Parliament and of the Council of 16 September 2009 on credit rating agencies M1 ;

“the CRD4 instruments” means M2 —

(a)

the capital requirements regulation; and

(b)

any directly applicable regulation made under the capital requirements regulation or the capital requirements directive;

“FSMA” means the Financial Services and Markets Act 2000.

[F2 [F3 (3) Any reference in this Order to an EU Regulation, or part of an EU Regulation, is to be read as a reference to that EU Regulation, or that part of that EU Regulation, as amended from time to time.]

(4) In paragraph (2) in the definition of “the CRD4 instruments”—

(a) the reference to any directly applicable regulation made under the capital requirements regulation is a reference to—

(i) any EU regulation, originally made under the capital requirements regulation, which is retained direct EU legislation,

(ii) any technical standards made in relation to the capital requirements regulation in accordance with Chapter 2A of Part 9A of the Act, and

(iii) any subordinate legislation (within the meaning of the Interpretation Act 1978) which is made under a power substituted for a power of an EU entity to make a directly applicable regulation under the capital requirements regulation by regulations made under section 8 of the European Union (Withdrawal) Act 2018;

(b) the reference to any directly applicable regulation made under the capital requirements directive is a reference to—

(i) any EU regulation, originally made under the capital requirements directive, which is retained direct EU legislation,

(ii) any technical standards made in relation to the capital requirements directive in accordance with Chapter 2A of Part 9A of the Act, and

(iii) any subordinate legislation (within the meaning of the Interpretation Act 1978) which is made under a power substituted for a power of an EU entity to make a directly applicable regulation under the capital requirements directive by regulations made under section 8 of the European Union (Withdrawal) Act 2018.]

Textual Amendments

F1 Words in art. 1(1) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 190(2); 2020 c. 1, Sch. 5 para. 1(1)

F2 Art. 1(3)(4) inserted (23.3.2019 for specified purposes, 31.12.2020 (on IP completion day) in so far as not in force) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(2)(i), 1(3), 190(3); S.I. 2020 c. 1, Sch. 5 para. 1(1)

F3 Art. 1(3) substituted (30.6.2020) by The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2020 (S.I. 2020/628), regs. 1(2), 3

Marginal Citations

M1 OJ no L302, 17/11/2009, p.1; the Regulation was amended by Directive 2011/61/EU (OJ no L 174 1.7.2011), Regulation (EU) No 513/2011(OJ no L 145 31.5.2011) and Regulation (EC) No 462/2013 ((OJ no L 146, 31.5.2013, p. 1) and was corrected by Corrigendum, OJ L 350, 29.12.2009 p. 59.

M2 Definitions of “capital requirements regulation” and “capital requirements directive” are inserted into section 417 of FSMA by the Capital Requirements Regulations 2013.