Legislation – Financial Services and Markets Act 2023
Changes to legislation:
Financial Services and Markets Act 2023, PART 5 is up to date with all changes known to be in force on or before 04 April 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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SCHEDULE 1Revocation of assimilated law relating to financial services
PART 5Other EU-derived legislation
EU-derived legislation not falling within Parts 1 to 3 so far as relating to financial services or markets (other than instruments excluded from this Part by regulations under section 1(5)).
For this purpose—
(a)
“EU-derived legislation” means—
(i)
F1assimilated direct legislation,
(ii)
subordinate legislation so far as it contains provision for the purpose of implementing, or otherwise in relation to, an EU directive or any other obligation that was created or arose by or under the EU Treaties before IP completion day,
(iii)
subordinate legislation made under section 3, or
(iv)
subordinate legislation made under the European Union (Withdrawal) Act 2018;
(b)
EU-derived legislation is to be taken as “relating” to financial services or markets if its purpose, or one of its main purposes, is for or in connection with the imposition of requirements on the provision of financial services or the operation of financial markets or exchanges.