Transitional provisions on the First Financial Markets Amendment Act

(1) The activity as a central securities depository may be continued on the basis of an authorisation for the custody business under section 1(1), second sentence, point 5, until the decision on the application for authorisation as a central securities depository under Article 17(1) of Regulation (EU) No 909/2014 becomes final. Section 2(9e) and (9f) and section 29(1b) do not apply until then.
(2) A central securities depository that, on the date the Federal Government publishes in the Federal Law Gazette under Article 17(3), second sentence, of the Act of 30 June 2016 (Federal Law Gazette I, p. 1514), holds authorisation under section 1(1), second sentence, point 1 or point 2, may continue to provide the banking services thereby authorised until the decision on the application for authorisation under Article 55(1) of Regulation (EU) No 909/2014 becomes final. Section 2(9e) and (9f) and section 29(1b) do not apply until then.