S.I. No. 443/2022 - European Union (Markets in Financial Instruments) (Amendment) (No. 4) Regulations 2022
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 9th September, 2022. | ||
I, PASCHAL DONOHOE, Minister for Finance, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972), and for the purpose of giving further effect to Directive 2014/65/EU of the European Parliament and of the Council of 15 May 20141 , as amended by Regulation (EU) 2022/858 of the European Parliament and of the Council of 30 May 20222 , hereby make the following regulations: | ||
Citation and commencement | ||
1. (1) These Regulations may be cited as the European Union (Markets in Financial Instruments) (Amendment) (No. 4) Regulations 2022. | ||
(2) These Regulations shall come into operation on 23 March 2023. | ||
Definition | ||
2. In these Regulations, “Principal Regulations” means the European Union (Markets in Financial Instruments) Regulations 2017 ( S.I. No. 375 of 2017 ). | ||
Amendment of Regulation 3 of Principal Regulations | ||
3. Regulation 3 of the Principal Regulations is amended, in paragraph (1), by the substitution of the following definition for the definition of “financial instrument”: | ||
“ ‘financial instrument’ means any of the instruments specified in Part 3 of Schedule 1 (including where such an instrument is issued by means of distributed ledger technology);”. | ||
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GIVEN under my Official Seal, | ||
6 September, 2022. | ||
PASCHAL DONOHOE, | ||
Minister for Finance. | ||
EXPLANATORY NOTE | ||
(This note is not part of the Instrument and does not purport to be a legal interpretation) | ||
These Regulations amend the European Union (Markets in Financial Instruments) Regulations 2017 ( S.I. No.375 of 2017 ) to extend the definition of financial instrument to include those instruments issued by way of distributed ledger technology (DLT), as required by Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology. | ||
