(1) The Uncertificated Securities Regulations 2001 [S.I. 2001/3755.] are amended as follows.

(2) In regulation 3(1) (interpretation) -

(a) in the appropriate place insert -

""CSD regulation" means Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories;";

(b) for the definition of "Operator" [The definition of "Operator" was amended by S.I. 2013/632.] substitute -

""Operator" means a person operating or proposing to operate a relevant system subject to these Regulations, who is -

(a) a recognised CSD within the meaning of section 285(1)(e) of the 2000 Act [2000 c.8; paragraphs (e) to (g) of section 285(1) were inserted by S.I. 2017/1064.],

(b) an EEA CSD within the meaning of section 285(1)(f) of the 2000 Act, or

(c) a third country CSD within the meaning of section 285(1)(g) of the 2000 Act;";

(c) in the definition of "settlement" [The definition of "settlement" was amended by S.I. 2007/124.], omit "except in paragraph 28 of Schedule 1,".