PART 2Amendments to the Act

CHAPTER 17Part 29 of the Act: interpretation of the Act

Section 422A (disregarded holdings)88

In section 422A146 (disregarded holdings)—

a

in subsection (4)—

i

in paragraph (a)147, for the words from “article 4.1.7” to “directive” substitute “article 2.1.6 of the markets in financial instruments regulation”;

ii

for paragraph (b), substitute—

b

has a Part 4A permission to carry on one or more investment services and activities;

b

in subsection (5), for “credit institution” substitute “qualifying credit institution”;

c

in subsection (6)—

i

in the opening words and in paragraph (b), for “credit institution” substitute “qualifying credit institution”;

ii

in paragraph (a)(ii), omit the words from “in accordance with” to the end;

d

in subsection (7)148, for “Article 2.1(b) of the UCITS Directive” substitute “section 237(2)”;

e

in subsection (9A)149, for the words from “Commission” to “financial instruments” substitute “the market abuse regulation and Commission Delegated Regulation (EU) No. 1052/2016 of 8 March 2016 supplementing Regulation (EU) No. 596/2014 of the European Parliament and the Council with regard to the regulatory technical standards for conditions applicable to buy-back programmes and stabilisation measures”;

f

omit subsection (10)150.