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3. Section 155(2)(1) of the Act shall be amended as follows—
(a)In subsection (2)(a) the words “with a person other than the exchange” shall be inserted after the word “exchange” where it first appears.
(b)Subsection (2)(b) shall be replaced by the following—
“(b)contracts entered into by the exchange with its members for the purpose of enabling the rights and liabilities of that member under transactions in investments to be settled.”
Section 155(2) was substituted by regulation 3 of the Financial Markets and Insolvency Regulations 1991 (S.I. 1991/880).
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