The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019 No. 266

PART 10 U.K. Amendment of retained direct EU legislation

92.  In Article 35a—

(a) in paragraph 2, in the second subparagraph omit “competent national”;

(b) paragraph 3, point (b), for “applicable national law”, substitute “ law applicable in the United Kingdom ”;

(c) in paragraph 4—

(i) for “applicable national law”, in each place it occurs substitute “ law applicable in the United Kingdom ”;

(ii) omit the last sentence;

(d) in paragraph 5, for “national law”, substitute “ law applicable in the United Kingdom ”;

(e) in paragraph 6—

(i) for “ESMA”, substitute “ the FCA ”;

(ii) for “as laid down in Article 36a” substitute “ to impose fines under the Credit Rating Agencies (EU Exit) (Amendments etc.) Regulations 2019 or under this Regulation ”;

Commencement Information

I1 Reg. 92 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)