SCHEDULE 2Amendments of subordinate legislation
Transitional provision in connection with the Financial Markets and Insolvency (Settlement Finality) Regulations 199928
For the purposes of regulation 7 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999, the Bank of England may exercise the power to revoke a designation order where—
a
the designation order was made before 1st April 2013, and
b
if an application for the designation order had been made on 1st April 2013, it would have been made to the Bank of England as the designating authority.