Transitional Provisions


From 1 June 2016 this Part applies in relation to a third-country law financial arrangement under 2.1 where a direct or indirect counterparty is:

  1. (1) a credit institution;
  2. (2) an investment firm; or
  3. (3) an undertaking which would be an investment firm if it had its head office in the UK.


From 1 January 2017 this Part applies in relation to all third-country law financial arrangements under 2.1 other than those to which the sole counterparty is an excluded person.