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Notice of the making of this Statutory Instrument was published in
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“Iris Oifigiúil” of 9th September, 2022.
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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:
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Citation and commencement
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1. (1) These Regulations may be cited as the European Union (Markets in Financial Instruments) (Amendment) (No. 4) Regulations 2022.
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(2) These Regulations shall come into operation on 23 March 2023.
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Definition
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2. In these Regulations, “Principal Regulations” means the European Union (Markets in Financial Instruments) Regulations 2017 (
S.I. No. 375 of 2017
).
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Amendment of Regulation 3 of Principal Regulations
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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”:
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“ ‘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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![http://www.irishstatutebook.ie/images/ls](http://www.irishstatutebook.ie/images/ls)
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GIVEN under my Official Seal,
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6 September, 2022.
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PASCHAL DONOHOE,
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Minister for Finance.
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EXPLANATORY NOTE
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(This note is not part of the Instrument and does not purport to be a legal interpretation)
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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.
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1 OJ No. L. 173, 12.06.2014, p. 349.
2 OJ No. L. 151, 02.06.2022, p. 1. |