Statutory Instruments
2022 No. 1223
Financial Services
F1 The Financial Services (Miscellaneous Amendments) Regulations 2022
Made
21st November 2022
Coming into force
at 11.00 p.m. on 31st December 2022
The Treasury make the following Regulations in exercise of the powers conferred by section 8(1) of, and paragraph 21 of Schedule 7 to, the European Union (Withdrawal) Act 2018( 1 ).
A draft of these Regulations has been approved by a resolution of each House of Parliament in accordance with paragraph 1(1) of Schedule 7 to that Act.
Citation, commencement and extent I1
1. —(1) These Regulations may be cited as the Financial Services (Miscellaneous Amendments) Regulations 2022.
(2) These Regulations come into force at 11.00 p.m. on 31st December 2022.
(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.
Amendment of the Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 I2
2. Regulation 11(5) (saving for certain financial services legislation relating to Gibraltar) of the Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019( 2 ) is amended as follows—
(a) in sub-paragraph (d)( 3 ), at the end insert “(except for regulation 8(1))” ;
(b) in sub-paragraph (f)( 4 ), for “28(10)” substitute “28(7), (8)(a) and (c), and (10),” ;
(c) in sub-paragraph (w)( 5 ), at the end insert “(except for regulations 7(2) and (3), and 8)” .
Amendment of Regulation (EU) No 648/2012 I3
3. —(1) Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories( 6 ) is amended as follows.
(2) In Article 4(5A)(a) (clearing obligation), for “two years” substitute “four years” .
Amendment of Regulation (EU) 2017/2402
F1 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Nigel Huddleston
Amanda Solloway
Two of the Lords Commissioners of His Majesty’s Treasury
21st November 2022
2018 c. 16 . Section 8 was amended by section 27 of the European Union (Withdrawal Agreement) Act 2020 (c. 1) (“ the 2020 Act ”). Paragraph 21 of Schedule 7 was amended by paragraph 53 of Schedule 5 to the 2020 Act.
S.I. 2019/680 , amended by S.I. 2019/1212 , 2019/1234 , 2020/628 , 2020/646 , 2020/1301 ; there are other amending instruments but none is relevant.
See S.I. 2018/1321 for the provisions saved by regulation 11(5)(d). There are amendments to S.I. 2018/1321 not relevant to these Regulations.
See S.I. 2018/1403 for the provisions saved by regulation 11(5)(f). S.I. 2018/1403 was subsequently amended by S.I. 2019/710 , 2019/1212 , 2019/1390 , 2020/1301 , 2020/1385 ; there are other amending instruments but none is relevant.
See S.I. 2019/403 for the provisions saved by regulation 11(5)(w). S.I. 2019/403 was subsequently amended by S.I. 2020/1301 ; there are other amending instruments but none is relevant.
EUR 2012/648. Article 4(5A) was inserted by S.I. 2019/660 (as amended by S.I. 2020/1301 ); there are other amending instruments but none is relevant.