1. This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
2. Article 3(1) shall apply from 1 January 2023 to transferable securities issued after that date and from 1 January 2025 to all transferable securities.
3. Article 5(2) shall apply from 1 January 2015.
By way of derogation from the first subparagraph of this paragraph, in the case of a trading venue that has access to a CSD referred to in Article 30(5), Article 5(2) shall apply at least six months before such a CSD outsources its activities to the relevant public entity, and in any event from 1 January 2016.
4. The settlement discipline measures referred to in Article 6(1) to (4) shall apply from the date of entry into force of the delegated act adopted by the Commission pursuant to Article 6(5).
5. Each of the settlement discipline measures referred to in Article 7(1) to (13) shall apply from the date of application specified for each settle
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