S.I. No. 289/2026 - European Union (Undertakings for Collective Investment in Transferable Securities) (Amendment) (No. 2) Regulations 2026
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 26th June, 2026. | ||
I, SIMON HARRIS, 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 2009/65/EC of the European Parliament and of the Council of 13 July 20091 , as amended by Directive (EU) 2024/2994 of the European Parliament and of the Council of 27 November 20242 , hereby make the following regulations: | ||
PART 1 | ||
Preliminary and General | ||
Citation and Commencement | ||
1. (1) These Regulations may be cited as the European Union (Undertakings for Collective Investment in Transferable Securities) (Amendment) (No. 2) Regulations 2026. | ||
(2) These Regulations shall come into operation on 25 June 2026. | ||
Definition | ||
2. In these Regulations, “Principal Regulations” means the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 ( S.I. No. 352 of 2011 ). | ||
PART 2 | ||
Amendment of Principal Regulations | ||
Amendment of Regulation 3 of Principal Regulations | ||
3. The Principal Regulations are amended, in Regulation 3(1), by the insertion of the following definition: | ||
“ ‘CCP’ means a CCP as defined in point (1) of Article 2 of Regulation (EU) 648/2012;”. | ||
Amendment of Regulation 70 of Principal Regulations | ||
4. The Principal Regulations are amended, in Regulation 70— | ||
(a) in paragraph (1)— | ||
(i) in subparagraph (a)— | ||
(I) by the deletion of “OTC”, and | ||
(II) by the insertion of “subject to prudential supervision” after “financial institutions”, | ||
and | ||
(ii) in subparagraph (c), by the substitution of “a UCITS in a derivative transaction that is not centrally cleared through a CCP authorised in accordance with Article 14 of Regulation (EU) No 648/20123 or recognised in accordance with Article 25 of that Regulation” for “a UCITS in an OTC derivative transaction”, | ||
and | ||
(b) in paragraph (2), by the substitution of the following subparagraph for subparagraph (c): | ||
“(c) exposures arising from derivative transactions that are not centrally cleared through a CCP authorised in accordance with Article 14 of Regulation (EU) No 648/20124 or recognised in accordance with Article 25 of that Regulation.”. | ||
| ||
GIVEN under my Official Seal, | ||
22 June, 2026. | ||
SIMON HARRIS, | ||
Minister for Finance. | ||
1 OJ No. L 302, 17.11.2009, p. 32. 2 OJ L, 2024/2994, 04.12.2024. |
