(1) Section 285 (exemption for recognised bodies) is amended as follows.

(2) In subsection (1) -

(a) omit paragraph (c) [Paragraph (c) was substituted by S.I. 2013/504 and amended by S.I. 2017/1064.]; and

(b) for paragraph (d) [Paragraph (d) was substituted by S.I. 2013/504.] substitute -

"(d) "third country central counterparty" means a person established in a country other than the United Kingdom who has been recognised by the Bank of England as a central counterparty pursuant to Article 25 of the EMIR Regulation;".

(3) Omit subsection (3B) [Subsection (3B) was inserted by S.I. 2013/504.].

(4) In subsection (3C) [Subsection (3C) was inserted by S.I. 2013/504.], for "ESMA" substitute "the Bank of England".