SCHEDULE 6CONSEQUENTIAL AMENDMENTS OF OTHER ENACTMENTS
PART 1AMENDMENTS OF PRIMARY LEGISLATION
Amendment of the Judicial Pensions Act (Northern Ireland) 19511
In section 11A of the Judicial Pensions Act (Northern Ireland) 195128 (voluntary contributions), in subsection (7B)(a), for “C of the Annex to the Investment Services Directive” substitute “B of Annex I to the Markets in Financial Instruments Directive”.
Amendment of the County Courts Act (Northern Ireland) 19592
In section 127A of the County Courts Act (Northern Ireland) 195929 (voluntary contributions), in subsection (7B)(a), for “C of the Annex to the Investment Services Directive” substitute “B of Annex I to the Markets in Financial Instruments Directive”.
Amendment of the Resident Magistrates’ Pensions Act (Northern Ireland) 19603
In section 9A of the Resident Magistrates’ Pensions Act (Northern Ireland) 196030 (voluntary contributions), in subsection (7B)(a), for “C of the Annex to the Investment Services Directive” substitute “B of Annex I to the Markets in Financial Instruments Directive”.
Amendment of the Superannuation Act 19724
In section 1 of the Superannuation Act 197231 (superannuation schemes as respects civil servants, etc.), in subsection (9B)(a), for “C of the Annex to the Investment Services Directive” substitute “B of Annex I to the markets in financial instruments directive”.
Amendment of the Consumer Credit Act 19745
In section 25 of the Consumer Credit Act 197432 (licensee to be a fit person), in subsection (1C), for “the Annex to the investment services directive (93/22/EEC)” substitute “Annex I to the markets in financial instruments directive (2004/39/EC)”.
Amendment of the Judicial Pensions Act 19816
In section 33A of the Judicial Pensions Act 198133(voluntary contributions), in subsection (9B)(a), for “C of the Annex to the Investment Services Directive” substitute “B of Annex I to the markets in financial instruments directive”.
Amendment of the Companies Act 19857
1
The Companies Act 198534 is amended as follows.
2
In section 2335(membership of holding company), in subsection (3B)(c), for “Article 16 of Council Directive 93/22/EEC on investment services in the securities field” substitute “Article 47 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
3
In section 16236 (power of company to purchase own shares), in subsection (4)(d), for “for the purposes of Article 16 of Council Directive 93/22/EEC on investment services in the securities field” substitute “which appears on the list drawn up by that State pursuant to Article 47 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments,”.
4
In section 162E37 (Treasury shares: mandatory cancellation), in subsection (3), for “is a regulated market for the purposes of Article 16 of Council Directive 93/22/EEC on investment services in the securities field” substitute “appears on the list drawn up by an EEA State pursuant to Article 47 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
5
In section 22638 (duty to prepare individual accounts), in subsection (5), for “Council Directive 93/22/EEC on investment services in the securities field” substitute “Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
6
In section 22739 (duty to prepare group accounts), in subsection (6), for “Council Directive 93/22/EEC on investment services in the securities field” substitute “Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
7
In section 22840 (exemption for parent companies included in accounts of larger group), in subsection (3), for “Council Directive 93/22/EEC on investment services in the securities field” substitute “Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
8
In section 228A41 (exemption for parent companies included in non-EEA group accounts), in subsection (3), for “Council Directive 93/22/EEC on investment services in the securities field” substitute “Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
Amendment of the Finance Act 19868
1
The Finance Act 198642 is amended as follows.
2
In section 80B43 (intermediaries: supplementary), in subsection (2), in the definition of “EEA exchange”, for “Article 16 of European Communities Council Directive No.93/22/EEC on investment services in the securities field” substitute “Article 47 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
3
In section 88B44 (intermediaries: supplementary), in subsection (2), in the definition of “EEA exchange”, for “Article 16 of European Communities Council Directive No.93/22/EEC on investment services in the securities field” substitute “Article 47 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
Amendment of the Building Societies Act 19869
In section 81B of the Building Societies Act 198645 (interpretation of Part 8), in subsection (1), for the definition of “regulated market” substitute—
“regulated market” has the meaning given in Article 4.1.14 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments.
Amendment of the Friendly Societies Act 199210
1
The Friendly Societies Act 199246 is amended as follows.
2
In section 69A47 (duty to prepare individual accounts), in subsection (4), for “Council Directive 93/22/EEC on investment services in the securities field” substitute “Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
3
In section 69E48 (duty to prepare group accounts), in subsection (5), for “Council Directive 93/22/EEC on investment services in the securities field” substitute “Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
Amendment of the Judicial Pensions and Retirement Act 199311
In section 10 of the Judicial Pensions and Retirement Act 199349 (additional benefits from voluntary contributions), in subsection (8B), for “C of the Annex to the Investment Services Directive” substitute “B of Annex I to the markets in financial instruments directive”.
Amendment of the Data Protection Act 199812
In Schedule 7 to the Data Protection Act 199850 (miscellaneous exemptions), in paragraph 6(3), in the definition of “instrument”, for “section B of the Annex to the Council Directive on investment services in the securities field (93/22/EEC)” substitute “section C of Annex I to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
Amendment of the Competition Act 199813
In Schedule 3 to the Competition Act 199851 (general exclusions), in paragraph 3(5), in paragraph (a) of the definition of “EEA regulated market”, for “article 16 of Council Directive 93/22/EEC of 10th May 1993 on investment services in the securities field” substitute “Article 47 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
PART 2AMENDMENTS OF SECONDARY LEGISLATION
Amendment of the Financial Markets and Insolvency (Settlement Finality) Regulations 199914
In regulation 2 of the Financial Markets and Insolvency (Settlement Finality) Regulations 199952—
a
in paragraph (b) of the definition of “institution” for “point 2 of Article 1 of Council Directive 93/22/EEC excluding the bodies set out in the list in Article 2(2)(a) to (k)” substitute “Article 4.1.1 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments, other than a person to whom Article 2 applies”;
b
in the definition of “securities” for “B of the Annex to Council Directive 93/22/EEC” substitute “C of Annex I to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
Amendment of the Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 200115
In article 3 of the Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 200153, in the definition of “regulated market”, for “Article 1(13) of the investment services directive” substitute “Article 4.1.14 of the markets in financial instruments directive”.
Amendment of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 200116
In regulation 7 of the Financial Services and Markets Act 2000 (Consultation with Competent Authorities) Regulations 200154, in paragraphs (3)(b)(iii) and (4)(b)(iii), for “investment services directive” substitute “markets in financial instruments directive”.
Amendment of the Insurers (Reorganisation and Winding Up) Regulations 200417
In regulation 44 of the Insurers (Reorganisation and Winding Up) Regulations 200455, in paragraph (3), for “Council Directive (93/22/EEC) of 10th May 1993 in investment services in the securities field” substitute “Article 4.1.14 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
Amendment of the Credit Institutions (Reorganisation and Winding up) Regulations 200418
1
The Credit Institutions (Reorganisation and Winding up) Regulations 200456 are amended as follows.
2
In regulation 29(2) for “Council Directive of 10th May 1993 on investment services in the securities field (No 93/22/EEC)” substitute “Article 4.1.14 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
3
In regulation 31(3) for “Section B of the Annex to the Council Directive of 10th May 1993 on investment services in the securities field (No 93/22/EEC)” substitute “Section C of Annex I to Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.
Amendment of the Financial Conglomerates and Other Financial Groups Regulations 200419
1
The Financial Conglomerates and Other Financial Groups Regulations 200457 are amended as follows.
2
In regulation 1(2), in paragraph (d) of the definition of “regulated entity”, for “Article 1(2) of the investment services directive” substitute “Article 4.1.1 of the markets in financial instruments directive”.
3
In regulation 7(1), in paragraph (b) of the definition of “investment firm”, for “investment services directive” substitute “markets in financial instruments directive”.
Amendment of the Investment Recommendation (Media) Regulations 200520
In regulation 2 of the Investment Recommendation (Media) Regulations 200558, in the definition of “financial instrument”, for “1(13) of Council Directive 93/22/EEC on investment services in the securities field” substitute “4.1.14 of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments”.