---
title: "The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2024"
id: 33b88fda-78b6-4bff-a5ec-0ba347863ccf
authority: uk
place: "United Kingdom"
applies_also_from: []
kind: regulation
in_force: true
publisher_url: https://www.legislation.gov.uk/uksi/2024/923
attribution: "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
solon_url: https://solon.orangecat.ch/law/33b88fda-78b6-4bff-a5ec-0ba347863ccf
language: en
in_force_from: 2024-11-29
date_basis: publisher
status: consolidated
source_url: https://www.legislation.gov.uk/uksi/2024/923/data.xml
read_on: 2026-11-10
sha256: 0b42899da05ccdaeb812d91cabd8fa8703f1b6c9420d21cfaaa72e844f341f60
provisions: 4
---

# The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2024

## Title and introductory text {#prelims}

2024 No. 923
Financial Services
The Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2024
Made
9th September 2024
Laid before Parliament
10th September 2024
Coming into force
29th November 2024
The Treasury make these Regulations in exercise of the powers conferred by Article 497(3) of Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation No 648/2012 (the “Capital Requirements Regulation”), and by regulation 18(2) of the Central Counterparties (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2018 (the “CCP Regulations”).
The Treasury are satisfied that it is necessary and proportionate to extend the transitional provisions in paragraph 1 of Article 497 of the Capital Requirements Regulation in order to avoid disruption to international financial markets, and that it is necessary and proportionate to extend the temporary recognition period in regulation 18(1) of the CCP Regulations in order to avoid disruption to the financial stability of the United Kingdom.

## 1 Citation, commencement and extent {#regulation-1}

(1) These Regulations may be cited as the Central Counterparties (Transitional Provision) (Extension and Amendment) Regulations 2024.
(2) These Regulations come into force on 29thNovember 2024.
(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.

## 2 Extension of the transitional period for third-country central counterparties under Article 497 of Regulation (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation No 648/2012 {#regulation-2}

In Article 497 (own funds requirements for exposures to CCPs) of Regulation (EU) 575/2013, the transitional period referred to in paragraph 1(b)(ii) is extended by 12 months so that it ends five years after the date of the submission of the application.

## 3 Amendment to the Central Counterparties (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2018 {#regulation-3}

In regulation 18(1) (temporary deemed recognition period) of the Central Counterparties (Amendment, etc, and Transitional Provision) (EU Exit) Regulations 2018, for “five years” substitute “six years”.