Regulation 3
Amendment of regulation 7
Subsidiary LegislationIn forceProvision 3 of 7
Regulation 3
In the principal Regulations, in regulation 7 —
(a)
after paragraph (4), insert —“(4A) Paragraph (1)(c) excludes a person that is exempt under section 99(1)(h) of the Securities and Futures Act 2001 read with paragraph 2(1)(a) or (e) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations, from the requirement to hold a capital markets services licence to carry on business in dealing in capital markets products, and carries on business in dealing in capital markets products for the person’s own account.”; and
(b)
in paragraph (5), delete sub‑paragraph (a).