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SI 2018/1403: This enactment is made in exercise of legislative powers under the European Communities Act 1972 and the European Union (Withdrawal) Act 2018 in preparation for Brexit. This enactment amends key pieces of UK domestic law and EU tertiary legislation in relation to markets in financial instruments arising from the withdrawal of the UK from the EU, to ensure that the legislation continues to operate effectively at the point at which the UK leaves the EU. It comes into force partly on 20 December 2018 and fully on exit day. (Updated from draft on 21 December 2018.)
These Regulations are made in exercise of the powers in section 2(2) of the European Communities Act 1972, and section 8(1) of, and paragraph 21 of Schedule 7 to, the European Union (Withdrawal) Act 2018 (EU(W)A 2018) in order to address failures of retained EU law to operate effectively, and other deficiencies arising from the withdrawal of the UK from the EU (and in particular, the deficiencies under EU(W)A 2018, s 8(2), paras (b), (c), (e), (f), (g)).
These Regulations are made to:
• amend the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001,
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