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Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018 [SI 2018 No. 1184]Introductory TextPart 1 Introduction (reg. 1)Regulation 1 Citation, commencement and interpretationPart 2 Amendment of primary legislation (regs. 2-5)Amendment of the 2000 Act (regs. 2-5)Regulation 2Regulation 3Regulation 4Regulation 5Part 3 Amendment of the EMIR Regulation (regs. 6-8)Regulation 6 Introduction to amendment of the EMIR RegulationRegulation 7 DefinitionsRegulation 8 Recognition of a third country CCPPart 4 Revocation of Level 2 Legislation (regs. 9-9A)Regulation 9 Revocation of implementing acts made under Article 25.6 of the EMIR RegulationRegulation 9A Revocation of delegated acts made under Articles 25.2a, 25a.3 or 25d.3 of the EMIR RegulationPart 5 Disapplication of continuation of existing acts, etc. (reg. 10)Regulation 10 Disapplication of ESMA recognition decisionsPart 6 Transitional provisions (regs. 11-26)Regulation 11 InterpretationRegulation 12 Application for deemed recognition pursuant to Article 25 of the EMIR RegulationRegulation 13 Deemed recognition pursuant to Article 25 of the EMIR RegulationRegulation 13A Determination of systemic importanceRegulation 13B Conditions for Tier 2 CCPsRegulation 13C Comparable complianceRegulation 14 Power to make regulations in respect of third countries' regulatory frameworks before IP completion dayRegulation 15 Bank's power to advise Treasury on regulatory equivalence of central counterpartiesRegulation 16 Cooperation arrangements between the Bank of England and the competent authorities of third countries before IP completion dayRegulation 17 Eligibility for temporary deemed recognitionRegulation 18 Temporary deemed recognition periodRegulation 19 Cessation of temporary deemed recognitionRegulation 19A. Eligibility for run-off regimeRegulation 19B. Relevant period for the purposes of regulation 19ARegulation 19C. Relevant services, activities and financial instruments for the purposes of regulation 19ARegulation 19D. Cessation of eligibility for the run-off regimeRegulation 20 Regulations under this PartApplication of the 2000 Act to the Bank of England in relation to its functions under this Part (regs. 21-25)Regulation 21Regulation 22Regulation 23Regulation 24Regulation 25Regulation 26 FeesSignatureExplanatory NoteExplanatory MemorandumImpact Assessments
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 29 November 2024 - onwards
Version 6 of 6

Regulation 18 Temporary deemed recognition period

(1) The temporary recognition period is the period of six years beginning with IP completion day.

(2) If the Treasury is satisfied that it is necessary and proportionate to avoid disruption to the financial stability of the United Kingdom, it may by regulations amend paragraph (1) to extend the temporary recognition period by a period not exceeding 12 months at a time.

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