These Regulations are made in exercise of the powers conferred by Articles 2a (2) and (4) of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties, and trade repositories (as it has effect in the UK) (“EMIR”) as amended by the relevant EU exit instrument, S.I. 2019/335.