Recital 2

(2)As announced in the Commission Communication of 13 November 2018‘Preparing for the withdrawal of the United Kingdom from the European Union on 30 March 2019: a Contingency Action Plan’ ² (‘the Contingency Action Plan’), a withdrawal without an agreement may pose risks in relation to certain services provided to Union operators by central securities depositories (‘CSDs’) that have already been authorised in the United Kingdom (‘UK CSDs’) and that cannot be replaced in the short-term. To prevent such risks, it is justified and in the interests of the Union and its Member States to ensure, for a limited period of time, that UK CSDs may continue to provide services in the Union after 29 March 2019.