(1) The power to make rules under section 300F, so far as applying to an FMI entity of the kind mentioned in subsection (2)(c) or (d) of that section (an "overseas FMI entity"), is exercisable -
(a) only by the application of corresponding rules, and
(b) except in the case of systemic third country CCPs (see subsection (6)), only so far as authorised by regulations made by the Treasury.
(2) The reference in subsection (1)(a) to "corresponding rules" is -
(a) in relation to rules that would apply to a third country central counterparty, rules under section 300F that apply to a recognised central counterparty;
(b) in relation to rules that would apply to a third country CSD, rules under section 300F that apply to a recognised CSD.
(3) Rules may be applied in accordance with subsection (1)(a) -
(a) by applying all corresponding rules or only such corresponding rules as the Bank considers appropriate;
(b) with such modifications as the Bank considers appropriate for the purpose of ensuring
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