The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013

(35A) A trade repository does not carry on an activity of the kind specified by article 25(2) by carrying on its functions of centrally collecting and maintaining records of derivatives under Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories.

• (5) In article 72, after paragraph (8) insert—

(9) Paragraphs (1) to (5) do not apply where the overseas person is providing clearing services as a central counterparty (within the meaning of section 313(1) of the Act).

Amendment to the Financial Services and Markets Act 2000 (Exemption) Order 2001

34

• (1) The Financial Services and Markets Act 2000 (Exemption) Order 2001[^f00086] is amended as follows.

• (2) In Schedule 1, in paragraph 37(1), after “section 285(3)” insert “or (3A)”.

Amendments to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

35

• (1) The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001[^f00087] are amended as follows.

• (2) In regulation 2[^f00088]—

• (a) in the appropriate place insert—

• EMIR information” means confidential information received by one of the regulators in the course of discharging its functions as a competent authority under the EMIR regulation;
• “the EMIR regulation” means Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories;

• (b) in the definition of “EEA competent authority”, after “single market directives” insert “or the EMIR regulation”;

• (c) in paragraph (b) of the definition of “overseas regulatory authority” for “or overseas clearing house” substitute “, overseas clearing house, EEA central counterparty (within the meaning of section 285(1)(c) of the Act) or third country central counterparty (within the meaning of section 285(1)(d) of the Act)”;

• (d) in the definition of “single market restrictions”—

• (i) at the end of paragraph (j) omit “and”;

• (ii) at the end of paragraph (k) insert—

; and (l) article 83 of the EMIR regulation;

• (3) In regulation 8[^f00089]—

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

• (b) at the end of paragraph (b) insert—

; and (c) EMIR information, where that information has been received from the competent authority of an EEA State other than the United Kingdom under the EMIR regulation.

• (4) In regulation 9[^f00090]—

• (a) in paragraph (1), after “(3C)” insert “, (3E)”;

• (b) after paragraph (3D) insert—

(3E) Paragraph (1) does not permit disclosure of EMIR information to a person specified in the first column of Schedule 1 in contravention of Article 83 of the EMIR regulation.

• (5) In regulation 11[^f00091], after paragraph (e) insert—

(f) EMIR information, where that information has been received from the competent authority of an EEA State other than the United Kingdom under the EMIR regulation, unless that authority has given its express consent for disclosure that is covered by this Part.

• (6) In Part 4 of Schedule 1—

• (a) in the first column, in the entry beginning “A recognised clearing house” after “other than an overseas clearing house” insert “, an EEA central counterparty (within the meaning of section 285(1)(c) of the Act) or a third country central counterparty (within the meaning of section 285(1)(d) of the Act)”;

• (b) in the table, at the end, insert—

An EEA central counterparty (within the meaning of section 285(1)(c) of the Act)	Its functions in relation to defaults or potential defaults by market participants

• (7) In Schedule 2, in the first column, in the entry beginning “A recognised clearing house” after “other than an overseas clearing house” insert “, an EEA central counterparty (within the meaning of section 285(1)(c) of the Act) or a third country central counterparty (within the meaning of section 285(1)(d) of the Act)”.

Amendments to the Uncertified Securities Regulations 2001

36

• (1) The Uncertificated Securities Regulations 2001[^f00092] are amended as follows.

• (2) In Schedule 1, in paragraph 5(7), in the definition of “clearing house”—

• (a) in paragraph (b) omit “or”;

• (b) after paragraph (b) insert—

(ba) which is an EEA central counterparty or a third country central counterparty within the meaning of section 285(1) of the 2000 Act; or

Amendment to the Pension Protection Fund (PPF Ombudsman) Order (Northern Ireland) 2005

37

• (1) The Pension Protection Fund (PPF Ombudsman) Order (Northern Ireland) 2005[^f00093] is amended as follows.

• (2) In Article 5(2) for sub-paragraph (j) substitute—

(j) a recognised investment exchange, a recognised clearing house, an EEA central counterparty or a third country central counterparty (as defined by section 285 of that Act); and

Amendment to the Pension Protection Fund (PPF Ombudsman) Order 2005

38

• (1) The Pension Protection Fund (PPF Ombudsman) Order 2005[^f00094] is amended as follows.

• (2) In article 7(2) for sub-paragraph (j) substitute—

(j) a recognised investment exchange, a recognised clearing house, an EEA central counterparty or a third country central counterparty (as defined by section 285 of that Act); and

Amendment to the Financial Assistance Scheme (Appeals) Regulations 2005

39

• (1) The Financial Assistance Scheme (Appeals) Regulations 2005[^f00095] are amended as follows.

• (2) In regulation 28(3) for sub–paragraph (k) substitute—

(k) a recognised investment exchange, recognised clearing house, EEA central counterparty or third country central counterparty (as defined by section 285 of that Act); and

Amendments to the Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No.9) 2009

40

• (1) The Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations (No.9) 2009[^f00096] are amended as follows.

• (2) In regulation 4(1) after “this regulation” insert “or in regulation 4A”.

• (3) After regulation 4 insert—

(4A) (1) The circumstances prescribed by this regulation are where, in connection with a facility transaction or an over the counter transaction, the conditions in paragraphs (2) and (3) are met. (2) A clearing member client contract entered into by a defaulting clearing participant (“DCP”) is transferred from the DCP to a non-defaulting clearing participant in accordance with the default rules of LCH.Clearnet Limited. (3) The clearing member client contract referred to in paragraph (2) does not represent the end transaction in the clearing of that contract either before or after the transfer. (4) For the purpose of this regulation— - “clearing member client contract” has the same meaning as in section 155 of the Companies Act 1989; - “default rules” and “defaulting” have the same meaning as in section 188 of the Companies Act 1989.

Amendments to the Investment Bank Special Administration Regulations 2011

41

• (1) The Investment Bank Special Administration Regulations 2011[^f00097] are amended as follows.

• (2) In regulation 2(1)—

• (a) in the definition of “market infrastructure body”, after “recognised investment exchange” insert “, EEA central counterparty, third country central counterparty”;

• (b) at the appropriate place insert—

• “EEA central counterparty” has the meaning set out in section 285 of FSMA;
• “third country central counterparty” has the meaning set out in section 285 of FSMA;

• (3) In regulation 13(1)(a)(iii) after “facilitate the” insert “transfer,”.

Amendments to the Stamp Duty and Stamp Duty Reserve Tax (Eurex Clearing AG) Regulations 2011

42

• (1) The Stamp Duty and Stamp Duty Reserve Tax (Eurex Clearing AG) Regulations 2011[^f00098] are amended as follows.

• (2) In regulation 2—

• (a) at the appropriate place insert—

• “clearing member client contract” has the same meaning as in section 155 of the Companies Act 1989;
• “default rules” and “defaulting” have the same meaning as in section 188 of the Companies Act 1989;
• “EEA central counterparty” and “third country central counterparty” have the same meaning as in section 285 of the Financial Services and Markets Act 2000;

• (b) in the definition of “nominee” after “prescribed recognised clearing house,” insert “prescribed EEA central counterparty or prescribed third country central counterparty”.

• (3) For regulation 3 substitute—

(3) Eurex is prescribed for the purposes of sections 116 and 117 of the Finance Act 1991.

• (4) In regulation 4

• (a) in paragraph (1) after “prescribed by” insert “paragraph (1A) or”;

• (b) after paragraph (1) insert—

(1A) The circumstances prescribed by this paragraph are where, in connection with a facility transaction or an over the counter transaction, the conditions in paragraphs (1B) and (1C) are met. (1B) A clearing member client contract entered into by a defaulting clearing participant (“DCP”) is transferred from the DCP to a non-defaulting clearing participant in accordance with the default rules of Eurex. (1C) The clearing member client contract referred to in paragraph (1B) does not represent the end transaction in the clearing of that contract either before or after the transfer.

• (c) in paragraph (2) after “The circumstances prescribed” insert “by this paragraph”;

• (d) at the end of paragraph (3)(f) omit “or”;

• (e) after paragraph (3)(f) insert—

(fa) a prescribed EEA central counterparty or its nominee to Eurex or its nominee; (fb) a prescribed third country central counterparty or its nominee to Eurex or its nominee; or

Amendments to the Stamp Duty and Stamp Duty Reserve Tax (European Central Counterparty Limited) Regulations 2011

43

• (1) The Stamp Duty and Stamp Duty Reserve Tax (European Central Counterparty Limited) Regulations 2011[^f00099] are amended as follows.

• (2) In regulation 2—

• (a) at the appropriate place insert—

• “clearing member client contract” has the same meaning as in section 155 of the Companies Act 1989;
• “default rules” and “defaulting” have the same meaning as in section 188 of the Companies Act 1989;
• “EEA central counterparty” and “third country central counterparty” have the same meaning as in section 285 of the Financial Services and Markets Act 2000;

• (b) in the definition of “nominee” after “prescribed recognised clearing house,” insert “prescribed EEA central counterparty or prescribed third country central counterparty”.

• (3) For regulation 3 substitute—

(3) EuroCCP is prescribed for the purposes of sections 116 and 117 of the Finance Act 1991.

• (4) In regulation 4—

• (a) in paragraph (1) after “prescribed by” insert “paragraph (1A) or”;

• (b) after paragraph (1) insert—

(1A) The circumstances prescribed by this paragraph are where, in connection with a facility transaction or an over the counter transaction, the conditions in paragraphs (1B) and (1C) are met. (1B) A clearing member client contract entered into by a defaulting clearing participant (“DCP”) is transferred from the DCP to a non-defaulting clearing participant in accordance with the default rules of EuroCCP. (1C) The clearing member client contract referred to in paragraph (1B) does not represent the end transaction in the clearing of that contract either before or after the transfer.

• (c) in paragraph (2) after “The circumstances prescribed” insert “by this paragraph”;

• (d) at the end of paragraph (3)(f) omit “or”;

• (e) after paragraph (3)(f) insert—

(fa) a prescribed EEA central counterparty or its nominee to EuroCCP or its nominee; (fb) a prescribed third country central counterparty or its nominee to EuroCCP or its nominee; or

Amendments to the Stamp Duty and Stamp Duty Reserve Tax (European Multilateral Clearing Facility N.V.) Regulations 2011

44

• (1) The Stamp Duty and Stamp Duty (European Multilateral Clearing Facility N.V.) Regulations 2011[^f00100] are amended as follows.

• (2) In regulation 2—

• (a) at the appropriate place insert—

• “clearing member client contract” has the same meaning as in section 155 of the Companies Act 1989;
• “default rules” and “defaulting” have the same meaning as in section 188 of the Companies Act 1989;
• “EEA central counterparty” and “third country central counterparty” have the same meaning as in section 285 of the Financial Services and Markets Act 2000;

• (b) in the definition of “nominee” after “prescribed recognised clearing house,” insert “prescribed EEA central counterparty or prescribed third country central counterparty”.

• (3) For regulation 3 substitute—

(3) EMCF is prescribed for the purposes of sections 116 and 117 of the Finance Act 1991.

• (4) In regulation 4—

• (a) in paragraph (1) after “prescribed by” insert “paragraph (1A) or”.

• (b) after paragraph (1) insert—

(1A) The circumstances prescribed by this paragraph are where, in connection with a facility transaction or an over the counter transaction, the conditions in paragraphs (1B) and (1C) are met. (1B) A clearing member client contract entered into by a defaulting clearing participant (“DCP”) is transferred from the DCP to a non-defaulting clearing participant in accordance with the default rules of EMCF. (1C) The clearing member client contract referred to in paragraph (1B) does not represent the end transaction in the clearing of that contract either before or after the transfer.

• (c) in paragraph (2) after “The circumstances prescribed” insert “by this paragraph”;

• (d) at the end of paragraph (3)(f) omit “or”;

• (e) after paragraph (3)(f) insert—

(fa) a prescribed EEA central counterparty or its nominee to EMCF or its nominee; (fb) a prescribed third country central counterparty or its nominee to EMCF or its nominee; or

Amendments to the Stamp Duty and Stamp Duty Reserve Tax (LCH.Clearnet Limited) Regulations 2011

45

• (1) The Stamp Duty and Stamp Duty Reserve Tax (LCH.Clearnet Limited) Regulations 2011[^f00101] are amended as follows.

• (2) In regulation 2—

• (a) at the appropriate place insert—

• “clearing member client contract” has the same meaning as in section 155 of the Companies Act 1989;
• “default rules” and “defaulting” have the same meaning as in section 188 of the Companies Act 1989;
• “EEA central counterparty” and “third country central counterparty” have the same meaning as in section 285 of the Financial Services and Markets Act 2000;

• (b) in the definition of “nominee” after “prescribed recognised clearing house,” insert “prescribed EEA central counterparty or prescribed third country central counterparty”.

• (3) For regulation 3 substitute—

(3) LCH.Clearnet is prescribed for the purposes of sections 116 and 117 of the Finance Act 1991.

• (4) In regulation 4—

• (a) in paragraph (1) after “prescribed by” insert “paragraph (1A) or”.

• (b) after paragraph (1) insert—

(1A) The circumstances prescribed by this paragraph are where, in connection with a facility transaction or an over the counter transaction, the conditions in paragraphs (1B) and (1C) are met. (1B) A clearing member client contract entered into by a defaulting clearing participant (“DCP”) is transferred from the DCP to a non-defaulting clearing participant in accordance with the default rules of LCH.Clearnet. (1C) The clearing member client contract referred to in paragraph (1B) does not represent the end transaction in the clearing of that contract either before or after the transfer.

• (c) in paragraph (2) after “The circumstances prescribed” insert “by this paragraph”;

• (d) at the end of paragraph (3)(f) omit “or”;

• (e) after paragraph (3)(f) insert—

(fa) a prescribed EEA central counterparty or its nominee to LCH.Clearnet or its nominee; (fb) a prescribed third country central counterparty or its nominee to LCH.Clearnet or its nominee; or

Amendments to the Stamp Duty and Stamp Duty Reserve Tax (SIX X-CLEAR AG) Regulations 2011

46

• (1) The Stamp Duty and Stamp Duty Reserve Tax (SIX X-CLEAR AG) Regulations 2011[^f00102] are amended as follows.

• (2) In regulation 2—

• (a) at the appropriate place insert—

• “clearing member client contract” has the same meaning as in section 155 of the Companies Act 1989;
• “default rules” and “defaulting” have the same meaning as in section 188 of the Companies Act 1989;
• “EEA central counterparty” and “third country central counterparty” have the same meaning as in section 285 of the Financial Services and Markets Act 2000;

• (b) in the definition of “nominee” after “prescribed recognised clearing house,” insert “prescribed EEA central counterparty or prescribed third country central counterparty”.

• (3) For regulation 3 substitute—

(3) X-CLEAR is prescribed for the purposes of sections 116 and 117 of the Finance Act 1991.

• (4) In regulation 4—

• (a) in paragraph (1) after “prescribed by” insert “paragraph (1A) or”.

• (b) after paragraph (1) insert—

(1A) The circumstances prescribed by this paragraph are where, in connection with a facility transaction or an over the counter transaction, the conditions in paragraphs (1B) and (1C) are met. (1B) A clearing member client contract entered into by a defaulting clearing participant (“DCP”) is transferred from the DCP to a non-defaulting clearing participant in accordance with the default rules of X-CLEAR. (1C) The clearing member client contract referred to in paragraph (1B) does not represent the end transaction in the clearing of that contract either before or after the transfer.

• (c) in paragraph (2) after “The circumstances prescribed” insert “by this paragraph”;

• (d) at the end of paragraph (3)(f) omit “or”;

• (e) after paragraph (3)(f) insert—

(fa) a prescribed EEA central counterparty or its nominee to X-CLEAR or its nominee; (fb) a prescribed third country central counterparty or its nominee to X-CLEAR or its nominee; or

Amendments to the Stamp Duty and Stamp Duty Reserve Tax (Cassa Di Compensazione E Garanzia S.p.A.) Regulations 2011

47

• (1) The Stamp Duty and Stamp Duty Reserve Tax (Cassa Di Compensazione E Garanzia S.p.A.) Regulations 2011[^f00103] are amended as follows.

• (2) In regulation 2—

• (a) at the appropriate place insert—

• “clearing member client contract” has the same meaning as in section 155 of the Companies Act 1989;
• “default rules” and “defaulting” have the same meaning as in section 188 of the Companies Act 1989;
• “EEA central counterparty” and “third country central counterparty” have the same meaning as in section 285 of the Financial Services and Markets Act 2000;

• (b) in the definition of “nominee” after “prescribed recognised clearing house,” insert “prescribed EEA central counterparty or prescribed third country central counterparty”.

• (3) For regulation 3 substitute—

(3) CC&G is prescribed for the purposes of sections 116 and 117 of the Finance Act 1991.

• (4) In regulation 4—

• (a) in paragraph (1) after “prescribed by” insert “paragraph (1A) or”.

• (b) after paragraph (1) insert—

(1A) The circumstances prescribed by this paragraph are where, in connection with a facility transaction or an over the counter transaction, the conditions in paragraphs (1B) and (1C) are met. (1B) A clearing member client contract entered into by a defaulting clearing participant (“DCP”) is transferred from the DCP to a non-defaulting clearing participant in accordance with the default rules of CC&G. (1C) The clearing member client contract referred to in paragraph (1B) does not represent the end transaction in the clearing of that contract either before or after the transfer.

• (c) in paragraph (2) after “The circumstances prescribed” insert “by this paragraph”;

• (d) at the end of paragraph (3)(f) omit “or”;

• (e) after paragraph (3)(f) insert—

(fa) a prescribed EEA central counterparty or its nominee to CC&G or its nominee; (fb) a prescribed third country central counterparty or its nominee to CC&G or its nominee; or

Amendments to the Rehabilitation of Offenders Act 1974 (Exclusions and Exceptions) (Scotland) Order 2013

48

• (1) The Rehabilitation of Offenders Act 1974 (Exclusions and Exceptions) (Scotland) Order 2013[^f00104] is amended as follows.

• (2) In article 2—

• (a) omit the definition of “UK recognised clearing house”;

• (b) insert at the appropriate place—

• “recognised clearing house” means a recognised clearing house as defined in section 285 of the 2000 Act;

• (3) In Schedule 2—

• (a) in paragraph 1(j)—

• (i) for “UK recognised clearing house” substitute “recognised clearing house”;

• (ii) after “section 292(2) of that Act,” insert “to refuse to vary a recognition order under section 290ZA(1) of the 2000 Act, to vary a recognition order under section 290ZA(2) of the 2000 Act,”;

• (b) in paragraph 7 for “UK recognised clearing house” substitute “recognised clearing house”;

• (c) in the Table—

• (i) for entry 6 substitute—

6.	An associate of a UK recognised investment exchange or recognised clearing house.	The FCA, the PRA or the Bank of England or the investment exchange or clearing house mentioned in the first column.

• (ii) for paragraph (1) of entry 16 substitute—

16.	(1)	Any member of a UK recognised investment exchange or recognised clearing house.	(1) The UK recognised investment exchange or recognised clearing house specified in the first column.

Amendment to the Payment to Treasury of Penalties (Enforcement Costs) Order 2013

49

• (1) The Payment to Treasury of Penalties (Enforcement Costs) Order 2013[^f00105] is amended as follows.

• (2) In article 2 after paragraph (j) insert—

(k) regulation 9 of the Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013.

PART 9 — Transitional and saving provisions

Interpretation of Part 10

50

In this Part—

• “CCP RCH” means a person, wherever established, which immediately before 15th March 2013 was a recognised clearing house or recognised investment exchange providing clearing services as a central counterparty in the United Kingdom;

• “commencement” means the coming into force of these Regulations;

• “FSA” means the Financial Services Authority.

Information provided to or requested by FSA

51

On and after commencement—

• (a) information requested by the FSA under—

• (i) Article 31 of the EMIR regulation, or

• (ii) Article 17, 83 or 84 of that Regulation from or in relation to a central counterparty,

is to be treated as if it had been requested by the Bank; and

• (b) information provided to the FSA in accordance with—

• (i) Article 31 of the EMIR regulation, or

• (ii) Article 17, 83 or 84 of that Regulation from or in relation to a central counterparty,

is to be treated as if it had been provided to the Bank.

Transitional and saving provisions: central counterparties

52

• (1) The transition period for a CCP RCH begins with commencement.

• (2) The transition period for a CCP RCH established in the United Kingdom ends immediately after—

• (a) the Bank determines its application under section 288(1) of the Act in accordance with Article 17 of the EMIR regulation, or

• (b) the end of the six month period specified in the first sub-paragraph of Article 89(3) of the EMIR regulation, if the CCP RCH has not made an application under section 288(1) of the Act before the end of that period.

• (3) The transition period for a CCP RCH established in an EEA State other than the United Kingdom ends immediately after—

• (a) the competent authority of that State determines its application in accordance with Article 17 of the EMIR regulation, or

• (b) the end of the six month period specified in the first sub-paragraph of Article 89(3) of the EMIR regulation, if the CCP RCH has not made an application under Article 14 before the end of that period.

• (4) The transition period for a CCP RCH established in a State which is not an EEA State ends immediately after—

• (a) ESMA determines its application in accordance with Article 25 of the EMIR regulation, or

• (b) the end of the six month period specified in the second sub-paragraph of Article 89(3) of the EMIR regulation, if the CCP RCH has not made an application under Article 25 before the end of that period.

• (5) During its transition period, the following legislation applies in relation to a CCP RCH as if it had not been amended or disapplied by these Regulations—

• (a) section 285(3) of the Act[^f00106] (exemption from general prohibition for recognised clearing house);

• (b) section 297 of the Act[^f00107] (revoking recognition);

• (c) sections 300A to 300E of the Act[^f00108] (power to disallow excessive regulatory provision);

• (d) subject to paragraph (5A), the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001[^f00109].

• (e) Part 1 of the Banking Act 2009 (special resolution regime).

• (5A) During its transition period, the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001 apply in relation to a CCP RCH which is established outside the United Kingdom as if—

• (a) they had not been amended or disapplied by these Regulations; and

• (b) paragraph 23A of the Schedule were omitted.

• (6) But paragraphs (5)(d) and (5A)(a) do not apply in relation to the assessment and determination of any application by the CCP RCH under Article 14 of the EMIR regulation.

• (7) Section 296A of the Act[^f00110] (additional power to direct recognised central counterparties) applies during the transition period for a CCP RCH as if a reference to a “recognised central counterparty” were a reference to a “CCP RCH”.

• (8) Nothing in these Regulations affects the validity of a CCP RCH’s recognition order during its transition period.

Further transitional provisions: EEA and third country central counterparties

53

• (1) Where the competent authority of an EEA State other than the United Kingdom has made a decision to authorise or not to authorise a CCP RCH in accordance with Article 17 of the EMIR regulation—

• (a) its recognition order under section 292(2)(b) of the Act ceases to be valid; and

• (b) the CCP RCH is no longer a recognised clearing house.

• (2) Where ESMA has made a decision to recognise or not to recognise a CCP RCH established in a State which is not an EEA State in accordance with Article 25 of the EMIR regulation—

• (a) its recognition order under section 292(2)(b) of the Act ceases to be valid; and

• (b) the CCP RCH is no longer a recognised clearing house.

Transitional and saving provisions: overseas persons

54

• (1) The transition period for an overseas person begins with commencement.

• (2) The transition period for an overseas person ends immediately after—

• (a) the determination of its application in accordance with Article 17 or 25 of the EMIR regulation, or

• (b) the end of the six month period specified in the second sub-paragraph of Article 89(3) of the EMIR regulation, if the overseas person has not made an application under Article 17 or 25 of the EMIR regulation before the end of that period.

• (3) During the transition period for an overseas person, article 72 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 applies in relation to that overseas person as if it had not been amended by these Regulations.

• (4) In this regulation, “overseas person” means an overseas person (within the meaning of article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001[^f00111]) which provided clearing services as a central counterparty immediately before commencement.

Transitional and saving provisions: designation orders under the Financial Markets and Insolvency (Settlement Finality) Regulations 1999

55

Nothing in these Regulations affects any designation order in force under the Financial Markets and Insolvency (Settlement Finality) Regulations 1999[^f00112] in relation to a designated system, and no system operator shall be required to apply for an amended designation order in consequence only of these Regulations.

PART 10 — Miscellaneous

Warning notices and decision notices

56

Sections 387 (warning notices), 388 (decision notices), 389 (notices of discontinuance), 391 (publication), 393 (third party rights) and 394 (access to Authority material) of the Act[^f00113] apply in relation to a warning notice or decision notice under these Regulations.

Offences

57

Sections 400 (offences by bodies corporate etc.), 401 (proceedings for offences) and 403 (jurisdiction and procedure in respect of offences) of the Act[^f00114] apply to offences under these Regulations as they apply to offences under the Act.

References to the Tribunal

58

Part 9 of the Act (hearings and appeals) applies to references to the Tribunal under these Regulations as it applies to references to the Tribunal under the Act.

Scotland

59

In the application of these Regulations to Scotland, references to the High Court are to be read as references to the Court of Session.

Review

60

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE — Section 191 of the Companies Act 1989: index of defined expressions

Defined Expression	Section
administration	Sections 190(6A) and (6B)
administrator	Sections 190(6A) and (6B)
administrative receiver	Section 190(1)
charge	Section 190(1)
clearing member	Section 190(1)
clearing member client contract	Section 155(1)(a)
clearing member house contract	Section 155(1)(b)
client	Section 190(1)
client trade	Section 155(1)(c)
cover for margin	Section 190(3)
default fund contribution	Section 188(3A)
default rules (and related expressions)	Section 188
designated non-member	Section 155(2)
EMIR Level 1 Regulation	Section 190(1)
EMIR Level 2 Regulation	Section 190(1)
the FCA	Section 190(1)
indirect client	Section 190(1)
insolvency law (and similar expressions)	Sections 190(6) and (6B)
interim trustee	Sections 190(1) and 190(7)(b)
liquidator	Sections 190(6A) and (6B)
margin	Section 190(3)
market charge	Section 173
market contract	Section 155
member of a clearing house	Section 190(1)
notice	Section 190(5)
overseas (in relation to investment exchanges and clearing houses)	Section 190(1)
party (in relation to a market contract)	Section 187
permanent trustee	Sections 190(1) and 190(7)(b)
the PRA	Section 190(1)
qualifying collateral arrangement	Section 155A(1)(a)
qualifying property transfers	Section 155A(1)(b)
recognised central counterparty	Section 190(1)
recognised clearing house	Section 190(1)
recognised investment exchange	Section 190(1)
relevant office-holder	Section 189
sequestration	Section 190(7)(a)
set off (in relation to Scotland)	Section 190(1)
settlement and related expressions (in relation to a market contract)	Section 190 (2)
The Stock Exchange	Section 190(1)
trustee, interim or permanent (in relation to Scotland)	Section 190(7)(b)
UK (in relation to investment exchanges)	Section 190(1)
winding up	Sections 190(6A) and (6B)

Signed

Stephen Crabb — Robert Goodwill — Two of the Lords Commissioners of Her Majesty’s Treasury — 2013-03-06

Vince Cable — Secretary of State for Business, Innovation and Skills — 2013-03-06

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

These Regulations implement certain Articles of Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (OJ No L 201, 27.7.2012, p1) (“the EMIR regulation”).

Part 2 amends Part 18 of the Financial Services and Markets Act 2000 (c.8) (recognised investment exchanges and clearing houses), in order to make the provisions concerning clearing houses compatible with the EMIR regulation. The Regulations create a new category of clearing house, known as a “recognised central counterparty”, which are those central counterparties which are subject to, and recognised pursuant to the provisions of, the EMIR regulation. Some provisions of Part 18 of the Financial Services and Markets Act 2000 will no longer apply to these bodies and in many cases the requirements are replaced by requirements emanating from the EMIR regulation.

Part 3 amends the Companies Act 1989 to implement and facilitate the provisions on segregation and portability of accounts in Articles 39 and 48 of the EMIR regulation.

Part 4 amends the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001 (S.I. 2001/995). The requirements relating to clearing houses in Part 3 of the Schedule are disapplied in relation to recognised central counterparties, and new Parts 5 and 6 are created which provide that the requirements of the EMIR regulation must be met in order for a body to gain recognition as a recognised central counterparty, together with the additional requirements set out in those Parts.

In Part 5, regulation 6 designates the Bank of England as the competent authority under the EMIR regulation for central counterparties. In most cases the Financial Conduct Authority (“FCA”) is designated as competent authority under the EMIR regulation for financial and non-financial counterparties, trading venues, trade repositories and clearing members of central counterparties, but the Prudential Regulation Authority has certain competent authority functions in relation to persons authorised by it. Regulation 7 grants powers to the FCA to obtain information, and regulation 9 gives the FCA power to impose penalties for contravening the EMIR regulation and certain provisions of the Regulations in order to implement Articles 12 and 22(3) of the EMIR regulation. Part 5 also makes provision with regard to applications and notifications to the FCA under the EMIR regulation.

Part 6 gives the Bank of England enforcement powers in relation to the requirements in Article 31 of the EMIR regulation (acquisition of control over central counterparties).

Part 7 makes provision to enable the European Securities and Markets Authority to gain access to telephone and data traffic records and make on-site inspections so that it may carry out its obligations under Title 6 of the EMIR regulation (registration and supervision of trade repositories). In each case the Authority must first obtain authorisation from the High Court, or in Scotland the Court of Session.

Part 8 contains consequential amendments to primary and secondary legislation, and Part 9 makes transitional and saving provisions. Part 10 provides for these Regulations to be reviewed before 1st April 2018 and subsequently at intervals of not more than five years.

A Tax Information and Impact Note has not been prepared for this Instrument as it contains no substantive changes to tax policy.

Footnotes

[^f00001]: S.I. 2012/1759.

[^f00002]: 1972 c.68; section 2(2) was amended by section 27 of the Legislative and Regulatory Reform Act 2006 (c. 51) and by section 3 of, and the Schedule to, the European Union (Amendment) Act 2008 (c. 7).

[^f00003]: 1989 c.40.

[^f00004]: The powers originally vested in the Secretary of State under sections 155(4) and (5), and 187(3) were transferred to the Treasury by the Transfer of Functions (Financial Services) Order 1992 (S.I. 1992/1315). Powers originally vested in the Secretary of State under section 186(1) were transferred to the Treasury insofar as they relate to functions under those sections.

[^f00005]: 2000 c.8; section 286 was amended by S.I. 2006/2975 and 2007/126 and section 30 of, and paragraph 2 of Schedule 8 to, the Financial Services Act 2012 (c.21).

[^f00006]: Section 185 was amended by S.I. 2001/3649.

[^f00007]: The powers originally vested in the Secretary of State under sections 158(4) and (5), 174(2) to (4), and 185 of the Companies Act 1989 are now exercisable by the Secretary of State jointly with the Treasury: see the Transfer of Functions (Financial Services) Order 1992. Powers originally vested in the Secretary of State under section 186(1) are now exercisable by the Secretary of State jointly with the Treasury insofar as they relate to functions under those sections.

[^f00009]: Section 55G was inserted by section 11 of the Financial Services Act 2012.

[^f00010]: Section 285 was amended by section 28 of the Financial Services Act 2012.

[^f00011]: Section 285A was inserted by section 29 of the Financial Services Act 2012.

[^f00012]: Section 288 was amended by Schedule 8 to the Financial Services Act 2012.

[^f00013]: Section 289 was amended by Schedule 8 to the Financial Services Act 2012.

[^f00014]: Section 290 was amended by S.I. 2007/126 and Schedule 8 to the Financial Services Act 2012.

[^f00015]: Section 290A was inserted by section 4 of the Investment Exchanges and Clearing Houses Act 2006 (c.55) and amended by Schedule 8 to the Financial Services Act 2012.

[^f00016]: Section 292 was amended by S.I. 2006/2975 and Schedule 8 to the Financial Services Act 2012.

[^f00017]: Section 296A was inserted by section 31 of the Financial Services Act 2012.

[^f00018]: Section 297 was amended by S.I. 2007/126 and 2012/916 and Schedule 8 to the Financial Services Act 2012.

[^f00019]: Section 300E inserted by section 2 of the Investment Exchanges and Clearing Houses Act 2006.

[^f00020]: The definitions in section 313(1) of “central counterparty clearing services” and “UK clearing house” were inserted by Schedule 8 to the Financial Services Act 2012.

[^f00021]: OJ No L 201, 27.7.2012, p1.

[^f00022]: Schedule 17A was inserted by Schedule 7 to the Financial Services Act 2012.

[^f00023]: 1989 c. 40.

[^f00024]: Sections 155(2) and (2A) were substituted by S.I. 1991/800; section 155(3) was substituted by S.I. 2009/853.

[^f00025]: 1986 c. 45.

[^f00026]: Section 157(1) was amended by S.I. 2001/3649 and by paragraph 65 of Schedule 18 to the Financial Services Act 2012; subsection 157(4) was inserted by paragraph 65 of Schedule 18 to the Financial Services Act 2012.

[^f00027]: Section 158 was amended by paragraph 44 of Schedule 17 to the Enterprise Act 2002 (c. 40) and S.I. 2009/853.

[^f00028]: Section 159(1) was amended by S.I. 2009/853.

[^f00029]: 1985 c.66.

[^f00030]: 1986 c.53.

[^f00031]: 2009 c.1.

[^f00032]: Section 162(1) was amended by S.I. 1991/880, S.I. 2001/3649 and by paragraph 66 of Schedule 18 to the Financial Services Act 2012 (c.21); section 162(1A) was inserted by S.I. 1991/880 and amended by S.I. 2001/3649 and by paragraph 66 of Schedule 18 to the Financial Services Act 2012; subsection 162(7) was inserted by paragraph 66 of Schedule 18 to the Financial Services Act 2012.

[^f00033]: Section 164 was amended by S.I. 2009/853.

[^f00034]: Section 165(4) was amended by S.I. 2009/853 and section 165(5) was inserted by S.I. 2009/853.

[^f00035]: Section 166 was amended by S.I. 2001/3649 and by section 111 of the Financial Services Act 2012 and subsection 166(9) was inserted by section 111 of the Financial Services Act 2012.

[^f00036]: OJ No L331, 15.12.2010, p.12.

[^f00037]: OJ No L331, 15.12.2010, p.84.

[^f00038]: S.I. 2001/995.

[^f00039]: Section 298 was amended by S.I. 2007/126.

[^f00040]: Section 297 was amended by S.I. 2007/126 and S.I. 2012/916.

[^f00041]: In section 298, “appropriate regulator” was substituted for “Authority” by section 35 of, and paragraph 16(b) of Schedule 8 to, the Financial Services Act 2012.

[^f00042]: Section 188(1) was amended by S.I. 2009/853.

[^f00043]: Section 190 was amended by S.I. 2001/3649 and by paragraph 70 of Schedule 18 to the Financial Services Act 2012.

[^f00044]: OJ No L 52, 23.2.2013, p.11.

[^f00045]: S.I. 2009/317.

[^f00046]: S.I. 2009/805; paragraph 3 of Schedule 2 was amended by S.I. 2010/1189.

[^f00047]: S.I. 2011/245.

[^f00048]: Section 191 was amended by S.I. 2001/3649, S.I. 2009/853 and paragraph 71 of Schedule 18 to the Financial Services Act 2012.

[^f00049]: S.I. 2001/995.

[^f00050]: In regulation 3(1), the definitions of “central counterparty”, “clearing” and “settlement” were inserted by S.I. 2006/3386.

[^f00051]: Paragraph 21A of the Schedule was inserted by S.I. 2006/3386.

[^f00052]: The definitions of “client”, “indirect client” and “position” in section 190(1) were inserted by regulation 4(18)(a) of these regulations.

[^f00053]: Section 188(1) was amended by S.I. 2009/853 and by regulation 4(17)(a) of these regulations; section 188(2) was amended by regulation 4(17)(b) of these regulations.

[^f00054]: Section 163 was amended by S.I. 2009/853.

[^f00055]: Sections 380 and 382 were amended by Schedule 9 to the Financial Services Act 2012 and S.I. 2007/126, 2011/1613 and 2012/1906 and 2554.

[^f00056]: Section 210 was amended by Schedule 2 to the Financial Services Act 2010 and Schedule 9 to the Financial Services Act 2012. Section 211 was amended by Schedule 9 to the Financial Services Act 2012.

[^f00057]: Section 393(4) was amended by Schedule 9 to the Financial Services Act 2012.

[^f00058]: Section 422 was substituted by S.I. 2009/534.

[^f00059]: Section 422A was inserted by S.I. 2009/534 and amended by S.I. 2011/1613.

[^f00062]: 1991 c. 31; section 116 was amended by paragraph 5 of Schedule 20 to the Financial Services and Markets Act 2000 (c.8), paragraph 7 of Schedule 21 to the Finance Act 2007 (c.11) and section 65 of the Finance Act 2010 (c.13); section 117 was amended by section 65 of the Finance Act 2010.

[^f00063]: 1993 c. 48; section 149 was substituted by S.I. 2001/3649.

[^f00064]: 1993 c. 49; section 145(6)(k) was substituted by S.I. 2001/3649.

[^f00065]: 2004 c. 35.

[^f00066]: 2007 c. 3; section 886 was amended by paragraph 24 of Schedule 14 to the Finance Act 2007.

[^f00067]: 2009 c.1, amended by section 102 of the Financial Services Act 2012.

[^f00068]: 2009 c. 4.

[^f00069]: S.I. 1972/1590; article 2(1) was amended by S.I. 1998/1259 and 2003/3204.

[^f00070]: OJ No L 201, 27.7.2012, p.1.

[^f00071]: S.I. 1975/1023; amended by S.I. 2001/3816.

[^f00072]: SR 1979/195.

[^f00073]: S.I. 1991/880; regulation 7 was amended by S.I. 1999/1209 and S.I. 2009/853.

[^f00074]: S.I. 1991/880; regulation 11 was amended by S.I. 2009/853.

[^f00075]: S.I. 1993/2004; regulation 5B was inserted by S.I. 2011/2503.

[^f00076]: S.I. 1999/2979; regulation 2(1) was amended by Schedule 1 to the Bankruptcy (Scotland) Act 1993 (c. 6), S.I. 2002/1555, S.I. 2006/50, S.I. 2006/3221, S.I. 2007/108, S.I. 2007/126, S.I. 2010/2993 and by S.I. 2011/99.

[^f00077]: Regulation 2(2) was amended by S.I. 2006/50; regulation 6 was amended by S.I. 2002/1555 and by S.I. 2009/1972; regulation 7(2) was amended by S.I. 2002/1555 regulation 10 was amended by S.I. 2002/1555 and S.I. 2010/2993; regulation 13(4) was inserted by S.I. 2010/2993; regulation 20(1) was amended by S.I. 2010/2993.

[^f00078]: 1985 c. 66.

[^f00079]: 1986 c. 53.

[^f00080]: 1986 c. 45.

[^f00081]: S.I. 1989/2405 (N.I. 19).

[^f00082]: S.I. 2009/317.

[^f00083]: S.I. 2009/805; paragraph 3 of Schedule 2 was amended by S.I. 2010/1189.

[^f00084]: S.I. 2011/245.

[^f00085]: S.I. 2001/544; article 35 was amended by S.I. 2003/1476; article 72(8) was inserted by S.I. 2006/3384.

[^f00086]: S.I. 2001/1201; paragraph 37 of Schedule 1 was amended by S.I. 2001/3623.

[^f00087]: S.I. 2001/2188.

[^f00088]: The definition of “EEA competent authority” was amended by S.I. 2003/2066 and 2006/3413, and the definition of “single market restrictions” was inserted by S.I. 2012/916.

[^f00089]: Regulation 8 was substituted by S.I. 2006/3413 and amended by S.I. 2012/916.

[^f00090]: Regulation 9(1) was amended by S.I. 2006/3413, 2010/2628 and 2011/1613. Regulation 9(3D) was inserted by S.I. 2011/1613.

[^f00091]: Regulation 11 was amended by S.I. 2003/2066, 2006/3413, 2011/1613 and 2012/916.

[^f00092]: S.I. 2001/3755.

[^f00093]: S.I. 2005/135; article 5 was amended by S.I 2005/342.

[^f00094]: S.I. 2005/824; article 7 was amended by S.I. 2005/2023 and S.I. 2008/2683.

[^f00095]: S.I. 2005/3273; regulation 28 was amended by S.I. 2008/2683.

[^f00096]: S.I. 2009/1828.

[^f00097]: S.I. 2011/245.

[^f00098]: S.I. 2011/666.

[^f00099]: S.I. 2011/667.

[^f00100]: S.I. 2011/668.

[^f00101]: S.I. 2011/669.

[^f00102]: S.I. 2011/670.

[^f00103]: S.I. 2011/2205.

[^f00104]: S.S.I. 2013/50.

[^f00105]: S.I. 2013/418.

[^f00106]: Section 285(3) was amended by section 28 of the Financial Services Act 2012.

[^f00107]: Section 297 was amended by S.I. 2007/126 and 2012/916 and Schedule 8 to the Financial Services Act 2012.

[^f00108]: Sections 300A to 300E were inserted by section 2 of the Investment Exchanges and Clearing Houses Act 2006 (c.55).

[^f00109]: S.I. 2001/995.

[^f00110]: Section 296A was inserted by section 31 of the Financial Services Act 2012.

[^f00111]: S.I. 2001/544; the definition of “overseas person” in article 3(1) was amended by S.I. 2003/1475, 2006/2383 and 3384 and 2009/1342.

[^f00113]: Sections 387, 388, 389, 391, 393 and 394 were amended by Schedule 9 to the Financial Services Act 2012. Section 391 was also amended by section 13 of the Financial Services Act 2010, section 24 of the Financial Services Act 2012 and S.I. 2012/916. Section 394 was also amended by Schedule 4 to the Regulation of Investigatory Powers Act 2000 (c.23).

[^f00114]: Sections 400, 401 and 403 were amended by Schedule 9 to the Financial Services Act 2012. Section 401 was also amended by Schedule 25 to the Enterprise Act 2002 (c.40).

Editorial notes

[^key-d0e171873f52560beb6449a907c29c0f]: Reg. 1 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-b4feefb68503d70143ada0f521f07526]: Reg. 2 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-d0cf3c6f574b62c550991c6d8a8be801]: Reg. 3 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-c9c1ea07eda10bfe10b8c62fa494057f]: Reg. 4 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-545b2eb0957fc1e46b5a2cfc5bb7be1a]: Reg. 5 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-137d069879b998c175664c829cb80d7e]: Reg. 6 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-1dccef65abaaced4d593ff3583a47509]: Reg. 7 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-4a66cab626dfa9f6c693a531774a8b1b]: Reg. 8 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-306bde385a79ee55bf3666eabb90df98]: Reg. 9 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-2d15ee4f6450c51342570f89d15c9892]: Reg. 10 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-be12379eda7dfc857d941f8c0c2f69fd]: Reg. 11 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-17ef710e2f305d9e052366db9a9f9a17]: Reg. 12 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-5b1d84f2a5d7b44dadf9933375740c29]: Reg. 13 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-32e8edf176eb8b13ae6fc966e5af2632]: Reg. 14 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-5a65e75845cf31d41144022447bb42b9]: Reg. 15 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-451b6b55a14e71b0d758b27332954540]: Reg. 20 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-8a8f3047c7664e008d10fc07be2743bd]: Reg. 21 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-231653b99d3a3f638168f256d324f439]: Reg. 22 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-d3a0ddcfb33ed1ed5a5b3dc5246c7c6a]: Reg. 23 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-d7b106d414afb9c1cbefd5288a647f60]: Reg. 24 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-2fa5781491c2ad95d0ca91147007010a]: Reg. 25 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-8aeec509acf2f480378c5930131b2dc9]: Reg. 26 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-d7b10a416b65b24336fdfa3b4c1573fe]: Reg. 27 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-a55cdb58c07b191a4fa4321a2b6e8d93]: Reg. 28 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-7b4cf140146dc887e14fb1940184a4e0]: Reg. 29 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-39792b9d5f7c548d3ec2d9022f70dc83]: Reg. 30 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-2a6bf7cdcf1941f10775cf0745c587bb]: Reg. 31 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-b9b49f5941df64ff9ebc6ddc3c6f99cc]: Reg. 32 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-5d2dfaddb849edc04141d264aac810e8]: Reg. 33 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-4e3f9f108ec4c55f9d52f0603507f875]: Reg. 34 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-0ec34d3218031130c6036e2c5272e238]: Reg. 35 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-7eea463ff5f1ff1cf3afb5bf16d1ab84]: Reg. 36 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-799b4dd748d9335f3913b03e76808c8b]: Reg. 37 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-ed03a9bf6cc39debc15e21a0ea3822fc]: Reg. 38 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-2e805e601d43df26bda0d98801cab308]: Reg. 39 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-bd0b847296bd23d4662bfd2d7a8a46c7]: Reg. 40 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-2f852ade34443445c56320fb8aeed0ef]: Reg. 41 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-35d6fffe9a064013d19c1d65615e175c]: Reg. 42 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-6f9e2b5a696efb2176676ba683f57052]: Reg. 43 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-63d9484e937e39209dabfbde45e8ad3a]: Reg. 44 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-2f1bc80cba8891cb55524e2b95accc76]: Reg. 45 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-27a50776a4de9220c7b41810d1aef52e]: Reg. 46 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-c324957bf6e54209cb0d510f4e2e672b]: Reg. 47 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-70af4e04ce3eeb361e0e9fdee8405b75]: Reg. 48 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-13efdb054264de2c4d78b4a31c955d5d]: Reg. 49 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-748c46cd18fa2523e67db5de7a22ce80]: Reg. 50 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-9ba866acb78067f9a6b070bc1b59b430]: Reg. 51 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-420ebaae620bb46f7d5459444f7239cb]: Reg. 52 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-7eafa16ce0fd43fa2f35ad8cb2f166a1]: Reg. 53 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-09d261250d72e22eef4c343916636462]: Reg. 54 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-a532eed51c643a0f20d157fcc57566bf]: Reg. 55 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-99e9d1b49a8949606d8ebce16f67c6e3]: Reg. 56 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-3e4bb121e152993d3bd5a52891ace0ea]: Reg. 57 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-ddeef56e2fb5605ffb50eee68041a3dd]: Reg. 58 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-56aee074b6fd65d3b3b371b4de2cfd58]: Reg. 59 in force at 1.4.2013 in accordance with reg. 1(2)

[^key-14b53116039722a81390e16b245b030c]: Sch. in force at 1.4.2013 in accordance with reg. 1(2)

[^key-46f0d43946d36c1dae7d7236bea654e7]: Words in reg. 9 heading inserted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(4)(a)

[^key-550f955f40240ce4f2920e7691ef909d]: Words in reg. 9(1) inserted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(4)(b)

[^key-9d9d20b83db9767bbc39e02d27113c9a]: Words in reg. 9(2) inserted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(4)(c)

[^key-d59d18c199b8e8e8dd983eb75c22acf0]: Reg. 8 heading substituted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(3)(a)

[^key-ab023caa5a59e9d3080f78048917780e]: Reg. 8(1A) inserted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(3)(b)

[^key-45dc140ba027d49371548adfb5782362]: Words in reg. 8(2) substituted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(3)(c)

[^key-68b09ae931d38ab5eacebbbd00ec0697]: Words in reg. 8(6) substituted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(3)(d)(i)

[^key-0b84923df0d3b51c51df547b54bed561]: Words in reg. 8(6) substituted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(3)(d)(ii)

[^key-e1add927681b7ac3e7e497beec65d0bb]: Word in reg. 7(1) omitted (26.8.2013) by virtue of The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(2)(a)

[^key-885ad2725df2d467c11382d75630a722]: Reg. 7(1)(c) and word inserted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(2)(b)

[^key-ec98bf57f67c8a275228b81fb1d4e847]: Pt. 6A inserted (26.8.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(c), 4(5)

[^key-ca98fe82f4bdac62c1944beba35551f8]: Reg. 52(5A) inserted (1.5.2014) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2014 (S.I. 2014/905), regs. 1(2), 2(3)

[^key-414bfb09a61bc37bf29c8b6aab1603ce]: Words in reg. 52(5)(d) inserted (1.5.2014) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2014 (S.I. 2014/905), regs. 1(2), 2(2)

[^key-ade620843da22805860e4515cdd9a4fd]: Words in reg. 52(6) substituted (1.5.2014) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2014 (S.I. 2014/905), regs. 1(2), 2(4)

[^key-b7e2126ded02ba7c084c79f75d161eed]: Word in reg. 36 heading substituted (18.3.2015) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2015 (S.I. 2015/348), regs. 1, 2(2)(a)

[^key-ee10f63ee1b9d84da0630900a7870b73]: Word in reg. 36(1) substituted (18.3.2015) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2015 (S.I. 2015/348), regs. 1, 2(2)(b)

[^key-f6da5158e48189f0ba9c1687fe40997b]: Reg. 52(5)(e) inserted (18.3.2015) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2015 (S.I. 2015/348), regs. 1, 2(3)

[^key-d42123e704a0cf20b1f2b3e023910702]: Word in reg. 8(1)(a) inserted (9.7.2019) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2019 (S.I. 2019/1031), regs. 1(2), 2(3)(a)

[^key-fc38eea3ba3630efb219092403a4338e]: Words in reg. 8(1)(b) substituted (9.7.2019) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (Amendment) Regulations 2019 (S.I. 2019/1031), regs. 1(2), 2(3)(b)

[^key-16c05ffd1e27eb8c8b7943847860a56a]: Words in reg. 6(1)(b) substituted (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(a)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-4dc0f61917fd7f3e53d037a9445d3175]: Reg. 6(1)(e) omitted (31.12.2020) by virtue of The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(a)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-7dfa1785c4696fe11d419b2564b2103c]: Reg. 6(1)(f) omitted (31.12.2020) by virtue of The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(a)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-a908ba31cb3c4b1aac7054b31ebb679d]: Reg. 6(2) omitted (31.12.2020) by virtue of The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-b39853e89be397a9b5d2245e177d4902]: Reg. 6(4)(a) omitted (31.12.2020) by virtue of The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(d) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-bf4797293960a81268e1a875e0323214]: Reg. 6(4)(b) omitted (31.12.2020) by virtue of The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(d) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-31c2bc0bbe346f9d082f768f88b44a85]: Words in reg. 6(6)(a) omitted (31.12.2020) by virtue of The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(e)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-4d79c1eefadeda3a635e35a684973da9]: Word in reg. 6(6)(a) inserted (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(e)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-063c9545f406b71ce2a3921838d926b6]: Reg. 6(6)(c) and word omitted (31.12.2020) by virtue of The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 4(e)(iii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)