Directive 2014/65/EU is amended as follows:
in Article 2(1), point (o) is replaced by the following:
CSDs except as provided for in Article 73 of Regulation (EU) No 909/2014 of the European Parliament and of the Council (^{11}).
in Article 4(1), the following point is added:
‘central securities depository’ or ‘CSD’ means a central securities depository as defined in point (1) of Article 2(1) of Regulation (EU) No 909/2014.’;
in Section B of Annex I, point (1) is replaced by the following:
Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management and excluding providing and maintaining securities accounts at the top tier level (‘central maintenance service’) referred to in point (2) of Section A of the Annex to the Regulation (EU) No 909/2014.’.