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In force since 2025-06-11, as the publisher states.
Copy read on 2026-11-10. The page it was read from
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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3 provisions
Title and introductory text
2025 No. 670
FINANCIAL SERVICES AND MARKETS
The Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025
Made
10th June 2025
Coming into force
11th June 2025
The Treasury make these Regulations in exercise of the powers conferred by section 3(1) of the Financial Services and Markets Act 2023.
A draft of these Regulations has been laid before and approved by a resolution of each House of Parliament in accordance with section 3(10) of the Financial Services and Markets Act 2023.
The Treasury have consulted the Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England as required by section 3(6) of that Act.
Propose a change1 Citation, commencement and extent
(1) These Regulations may be cited as the Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025.
(2) These Regulations come into force on the day after the day on which they are made.
(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.
Propose a change2 Amendment of Regulation (EU) 648/2012
In Article 89 (transitional provisions) of Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories, in paragraph 1—
(a) in the first sub-paragraph, at the beginning, for “Until 18 June 2023, the” substitute “The”;
(b) in the third sub-paragraph, omit “entered into by those entities during this period”;
(c) omit the fourth sub-paragraph.
Propose a change