The Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018
| Jurisdiction | UK Non-devolved |
| Citation | SI 2018/1115 |
| Year | 2018 |
(1) These Regulations may by cited as the Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018.(2) These Regulations come into force on the day after the day on which they are made.the EU Regulations specified in Part 1 of the Schedule, is the FCA; the EU Regulations specified in Part 2 of the Schedule, is the PRA; the EU Regulations specified in Part 3 of the Schedule, is the Bank of England; the EU Regulations specified in Part 4 of the Schedule, is both the FCA and the PRA; the EU Regulations specified in Part 5 of the Schedule, is both the FCA and the Bank of England; the EU Regulation specified in Part 6 of the Schedule, is the Payment Systems Regulator; EU-derived provisions, means whichever of the FCA, the PRA or the Bank of England made the provisions, “authorised persons” and “PRA-authorised persons” have the meaning given in sections 31(2) and 2B(5) respectively of the Financial Services and Markets Act 2000
“ “ “ “ “ “ “ “ “regulators” mean the FCA, the PRA, the Bank of England and the Payment Systems Regulator; “specified EU Regulations” mean the EU Regulations or parts of EU Regulations forming part of retained EU law which are specified in the Schedule; a person is connected with another person in the circumstances set out in section 165(11) of the Financial Services and Markets Act 2000
In these Regulations, references to EU Regulations are to those EU Regulations as they have effect from time to time. any failure of the specified EU Regulations or of EU-derived provisions to operate effectively, orany other deficiency in the specified EU Regulations or EU-derived provisions,the other regulator has been consulted on the proposal to divide the EU Regulation into two parts in accordance with regulation 4(6) ; orif the EU Regulation is not being divided, the other regulator consents to any amendments being made.references to retained EU law were references to the specified EU Regulations or to EU-derived provisions;references to the Minister were references to the appropriate regulator;references to regulations under section 8(1) were references to EU Exit instruments made under this regulation.make provision falling within section 8(6) (a) of the 2018 Act;confer any power to legislate by means of orders, rules, regulations or any other subordinate instrument;amend any legislation other than the specified EU Regulations or EU-derived provisions.either condition A, B or C is satisfied; andcondition D is satisfied.PRA-authorised persons (within the meaning of section 2B(5) of the Financial Services and Markets
To continue reading
Request your trial