Date laid: 4 February 2019
Sifting period ends: 20 February 2019
1.This proposed negative instrument is part of a wider package of statutory instruments laid by HM Treasury since July 2018 to ensure that the UK continues to have a functioning financial regulatory framework after exit from the EU. The instrument addresses errors and omissions in earlier instruments, and makes amendments that do not fall within the remit of changes made by other instruments. The legislation proposed to be amended by the instrument includes: four Acts of Parliament; seven “pre-EU Exit” statutory instruments; 12 “EU Exit” statutory instruments that have been considered by the House during the last six months; and several items of retained EU legislation (details are given in section 2 of the Explanatory Memorandum). Given the number and significance of the Acts and instruments being amended, and of the policy area (financial services regulation) concerned, we consider that the House may wish to have the opportunity to debate the instrument, and we therefore recommend that it should be made subject to the affirmative resolution procedure.