The Financial Services and Markets Act 2023 (Digital Securities Sandbox) (Amendment) Regulations 2025
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Change 1
5 Amendment of Part 2 of the Schedule
(1) In Part 2 of the Schedule (modifications of UK CSDR)— (a) for the entry for Articles 64 to 66 substitute — Article 64 | Treat this article as disapplied. Article 65 | In paragraph (1), treat the reference to “competent authority” as a reference to a digital securities depository. Treat the reference to “infringements of this Regulation” as a reference to infringements of requirements (which may include a requirement imposed by a SAN) imposed by or under these Regulations. Treat the reference to “competent authorities” as a reference to the Bank of England. In paragraph (3), treat the first sub-paragraph as imposing a direct requirement on a digital securities depository to have in place the reporting procedures mentioned in that paragraph. Article 66 | Treat this article as disapplied. ; (b) in the entry for Article 73, in the second column substitute— Article 73 | Treat this article as disapplied. .
5 Amendment of Part 2 of the Schedule
(1) In Part 2 of the Schedule (modifications of UK CSDR)— (a) for the entry for Articles 64 to 66 substitute — Article 64 | Treat this article as disapplied. Article 65 | In paragraph (1), treat the reference to “competent authority” as a reference to a digital securities depository. Treat the reference to “infringements of this Regulation” as a reference to infringements of requirements (which may include a requirement imposed by a SAN) imposed by or under these Regulations. Treat the reference to “competent authorities” as a reference to the Bank of England. In paragraph (3), treat the first sub-paragraph as imposing a direct requirement on a digital securities depository to have in place the reporting procedures mentioned in that paragraph. Article 66 | Treat this article as disapplied. ; (b) in the entry for Article 73, in the second column substitute— Article 73 | Treat this article as disapplied. .
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