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

Made: 25th March 2019

Coming into force in accordance with regulation 1(2) and (3)

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PART 1 — Introduction

Citation, commencement and interpretation

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PART 2 — Amendments coming into force before IP completion day

Amendments of Parts 18 and 18A of the 2000 Act

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Amendments of the Schedule to the principal Regulations

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PART 3 — Amendments of the 2000 Act coming into force on IP completion day

Amendments of Part 18 of the 2000 Act

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Amendments of Part 18, Chapter 1: Exemption

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Amendments of Part 18, Chapter 1A: Control over recognised investment exchange

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Amendment of Part 18, Chapter 3A: Passport Rights

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Amendments of Part 18, Chapter 3B: disciplinary measures

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Amendment of Part 18, Chapter 4: Interpretation

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Amendments of Part 18A of the 2000 Act

10

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Amendments of Schedule 17A to the 2000 Act

11

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Amendment of Schedule 17A: rules

12

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Amendments of Schedule 17A: information gathering and investigations

13

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Amendment of Schedule 17A: co-operation

14

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Amendments of Schedule 17A: injunctions and restitution

15

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Amendment of Schedule 17A: records

16

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Amendment of Schedule 17A: annual report

17

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PART 4 — Amendments of the principal Regulations coming into force on IP completion day

Amendments of the principal Regulations

18

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Amendments of regulation 3

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Amendments to the Schedule

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PART 5 — Consequential amendments

Finance Act 1986

21

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Finance Act 1991

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Income Tax (Manufactured Overseas Dividends) Regulations 1993

23

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Investment Bank Special Administration Regulations 2011

24

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

25

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

26

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

27

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

28

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Stamp Duty and Stamp Duty Reserve Tax (European Central Counterparty N.V.) Regulations 2014

29

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Signed

Paul Maynard — Rebecca Harris — Two of the Lords Commissioners of Her Majesty's Treasury — 2019-03-25

Explanatory note

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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. By virtue of the amendment of section 1(2) by section 1 of the European Economic Area Act 1993 (c.51), regulations may be made under section 2(2) of the European Communities Act 1972 to implement obligations of the United Kingdom created or arising by or under the Agreement on the European Economic Area signed at Oporto on 2nd May 1993 (Cm 2073) and the Protocol adjusting the Agreement signed in Brussels on 17th March 1993 (Cm 2183). The European Communities Act 1972 is repealed with effect from exit day by section 1 of the European Union (Withdrawal) Act 2018.

[^f00003]: 2000 c.8. Section 286(1) was amended by paragraph 2 of Schedule 8 to the Financial Services Act 2012 (c. 21), and by S.I. 2017/1064.

[^f00004]: 2018 c.16.

[^f00005]: 2000 c. 8.

[^f00006]: S.I. 2001/995. The title of the Regulations was amended by S.I. 2017/1064.

[^f00007]: Section 301E was substituted by S.I. 2009/534; subsection (9A) was inserted by S.I. 2015/1755.

[^f00008]: Section 313D was inserted by S.I. 2007/126 and amended by S.I. 2017/701; there are other amendments to the section but none is relevant.

[^f00009]: Paragraph 2B was inserted by S.I. 2017/701.

[^f00010]: S.I. 2017/701.

[^f00011]: The heading of Part 18 was amended by S.I. 2017/1064.

[^f00012]: Subsections (1)(f) and (g), and (3E) to (3H) were inserted by S.I. 2017/1064.

[^f00013]: Section 285A was inserted by section 29(1) of the Financial Services Act 2012 and subsection (2) was amended by S.I. 2017/1064.

[^f00014]: Section 287A was inserted by S.I. 2017/701.

[^f00015]: Section 288A was inserted by S.I. 2017/1064.

[^f00016]: Subsection (5) was inserted by S.I. 2017/1064.

[^f00017]: 1978 c. 30.

[^f00018]: Subsection (1A) was inserted by S.I. 2007/126 and amended by S.I. 2017/701.

[^f00019]: Subsection (3)(a) was substituted by S.I. 2017/701.

[^f00020]: Subsection (3) was amended by paragraph 10(2) of Schedule 8 to the Financial Services Act 2012, S.I. 2017/1064 and 2018/135; subsection (7A) was inserted by S.I. 2017/1064.

[^f00021]: Section 293A was substituted by paragraph 11 of Schedule 8 to the Financial Services Act 2012, and renumbered by S.I. 2017/1064, which inserted subsections (2) and (3).

[^f00022]: Subsection (7) was inserted by S.I. 2017/1064.

[^f00023]: Section 295A was inserted by S.I. 2017/1064.

[^f00024]: Subsections (1A), (1B) and (2B) were inserted by S.I. 2007/126; subsections (1A) and (2) were amended by paragraphs 14(3)(a) and (b) and (4) of Schedule 8 to the Financial Services Act 2012 and S.I. 2017/1064.

[^f00025]: Subsection (2A) was inserted by S.I. 2007/126 and amended by paragraph 15(3) of Schedule 8 to the Financial Services Act 2012 and S.I. 2013/504 and 2017/1064. Subsection (6) was inserted by S.I. 2012/916 and amended by paragraph 15(5) of Schedule 8 to the Financial Services Act 2012.

[^f00027]: Section 300A was inserted by section 1 of the Investment Exchanges and Clearing Houses Act 2006 (c. 55). Subsection (3) was amended by S.I. 2011/1043.

[^f00028]: Section 301E was inserted by S.I. 2007/126 and substituted by S.I. 2009/534; subsection (4)(a) was amended by S.I. 2017/701 and subsection (7) was amended by S.I. 2011/1613.

[^f00029]: Section 301M was inserted by S.I. 2009/534; subsection (1) was amended by S.I. 2013/3115.

[^f00030]: Chapter 3A was inserted by S.I. 2007/126, and amended by section 35 of, and paragraphs 1 and 33 to 37 of Schedule 8 to, the Financial Services Act 2012, and S.I. 2011/1043, 2012/916, and 2017/701.

[^f00031]: Section 312E was inserted by section 33 of the Financial Services Act 2012; subsection (1A) and paragraphs (3)(a) and (c) were inserted and amended, respectively, by S.I. 2017/1064.

[^f00032]: Subsection (2) was inserted by S.I. 2017/1064.

[^f00033]: Section 312FA was inserted by S.I. 2017/1064.

[^f00034]: Section 312G was inserted by section 33 of the Financial Services Act 2012 and subsection (5) was inserted by S.I. 2017/1064.

[^f00035]: Section 312H was inserted by section 33 of the Financial Services Act 2012 and subsection (5) was inserted by S.I. 2017/1064.

[^f00036]: Section 312I was inserted by section 33 of the Financial Services Act 2012 and paragraph (a) was amended by S.I. 2017/1064.

[^f00037]: 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.

[^f00038]: The definition is amended before exit day by regulation 3(b) of these Regulations.

[^f00039]: Part 18A was inserted by S.I. 2007/126.

[^f00040]: Section 313CA was inserted by S.I. 2017/701.

[^f00041]: Section 313CB was inserted by S.I. 2017/701.

[^f00042]: Section 313CC was inserted by S.I. 2017/701.

[^f00043]: Section 313D was renumbered by S.I. 2017/701. In subsection (1), the definitions of “competent authority”, “derivative”, “systematic internaliser” and “trading venue” were inserted by S.I. 2017/701; the definition of “financial instrument” was amended by S.I. 2017/701. Subsection (2) was inserted by S.I. 2017/701.

[^f00044]: S.I. 2001/544. Schedule 2 was substituted by S.I. 2006/3384 and amended by S.I. 2017/488.

[^f00045]: Schedule 17A was inserted by paragraph 1 of Schedule 7 to the Financial Services Act 2012.

[^f00046]: Sub-paragraph (2) was amended by S.I. 2017/1064.

[^f00047]: Paragraph 12 was amended by S.I. 2017/1064.

[^f00048]: Sub-paragraph (1A) was inserted by S.I. 2017/1064.

[^f00049]: Sub-paragraphs (2)(d) and (2)(f) were amended and inserted, respectively, by S.I. 2017/1064.

[^f00050]: Sub-paragraph (2)(a) was amended by S.I. 2017/1064.

[^f00051]: Sub-paragraphs (2)(a) and (4)(a) were amended by S.I. 2017/1064.

[^f00052]: Paragraph 32 was amended by S.I. 2017/1064.

[^f00053]: Sub-paragraph (a) was amended by S.I. 2017/1064.

[^f00054]: Regulation 3 was amended by S.I. 2006/3386, 2009/1853, 2013/472, 2013/504, 2013/1908, 2013/3115 and 2017/1064.

[^f00055]: S.I. 2013/1773.

[^f00056]: 1993 c.48. Section 1 was amended by section 239 of the Pension Schemes Act 2004 (c. 35) and S.I. 2007/3014.

[^f00057]: S.I. 2017/699.

[^f00058]: 1986 c. 41.

[^f00059]: Section 84(3)(a) was amended by S.I. 2017/1064.

[^f00060]: Section 85(5)(c) was inserted by S.I. 2017/1064.

[^f00061]: 1991. c.31. Section 116(4)(b) was substituted by S.I. 2013/504 and amended by S.I. 2017/1064.

[^f00062]: S.I. 1993/2004. The definition of “central counterparty in regulation 5B(6) was amended, and the definition of “EEA central counterparty” was inserted, by S.I. 2013/504.

[^f00063]: S.I. 2011/245. The definition of “EEA central counterparty” was inserted by S.I. 2013/504; the definition of “EEA CSD” was inserted by S.I. 2017/1064; and the definition of “market infrastructure body” was amended by S.I. 2013/504 and S.I. 2017/1064, there are other amending instruments to this definition but none is relevant.

[^f00064]: S.I. 2011/666.

[^f00065]: The definitions of “EEA central counterparty” and “third country central counterparty” were inserted, and the definition of “nominee” amended, by S.I. 2013/504.

[^f00066]: Sub-paragraph (fa) was inserted by S.I. 2013/504.

[^f00067]: S.I. 2011/669.

[^f00068]: The definitions of “EEA central counterparty” and “third country central counterparty” were inserted by, and the definition of “nominee” amended by, S.I. 2013/504.

[^f00069]: Sub-paragraph (fa) was inserted by S.I. 2013/504.

[^f00070]: S.I. 2011/670.

[^f00071]: The definitions of “EEA central counterparty” and “third country central counterparty” were inserted by, and the definition of “nominee” amended by, S.I. 2013/504.

[^f00072]: Sub-paragraph (fa) was inserted by S.I. 2013/504.

[^f00073]: S.I. 2011/2205.

[^f00074]: The definitions of “EEA central counterparty” and “third country central counterparty” were inserted by, and the definition of “nominee” amended by, S.I. 2013/504.

[^f00075]: Sub-paragraph (fa) was inserted by S.I. 2013/504.

[^f00076]: S.I. 2014/9.

Editorial notes