In regulation 35 -
(a) in paragraph (1) -
(i) in sub-paragraph (a), for "M's home Member State is" substitute "M is established in";
(ii) for sub-paragraph (b), substitute -
"(b) M falls within paragraph (1A) of regulation 30; and";
(iii) in sub-paragraph (c), for "for the purposes of the directive" substitute "to carry on a regulated activity which is any of the investment services and activities";
(b) in paragraph (2), for the words from "regulatory technical standards" to the end of the paragraph, substitute "Commission Delegated Regulation (EU) 2017/574 of 7 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the level of accuracy of business clocks.".