156.—(1) Article 83 (options) is amended as follows.
(2) In paragraph (1)(e)(1), for the words after “an option to which” substitute “paragraph 5, 6, 7 or 10 of Part 1 of Schedule 2 (read with Articles 5, 6, 7, and 8 of the Commission Regulation) applies”.
(3) In paragraph (2)(d)(2)—
(a)in paragraph (i) omit “Section C of Annex I to the markets in financial instruments directive, the text of which is set out in”;
(b)in paragraph (ii), for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of that Schedule”.
(4) In paragraph (3)(c)(3), for “Section C of Annex I to the markets in financial instruments directive” substitute “Part 1 of Schedule 2”.
(5) In paragraph (4)(4), for sub-paragraphs (a) to (d) substitute—
“(a)an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,
(b)a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,
(c)a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or
(d)a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.”.
(6) Omit paragraph (5)(5).
Paragraph (1)(e) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.
Paragraph (2) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.
Paragraph (3) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.
Paragraph (4) was inserted by S.I. 2006/3384 and was amended by S.I. 2011/1613 and S.I. 2017/488.
Paragraph (5) was inserted by S.I. 2006/3384.