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Financial Services Act 1986 (Repealed)
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Financial Services Act 1986 (Repealed), Paragraph 2 is up to date with all changes known to be in force on or before 03 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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2(1)The rules and practices of the exchange must ensure that business conducted by means of its facilities is conducted in an orderly manner and so as to afford proper protection to investors.
(2)The exchange must—
(a)limit dealings on the exchange to investments in which there is a proper market; and
(b)where relevant, require issuers of investments dealt in on the exchange to comply with such obligations as will, so far as possible, afford to persons dealing in the investments proper information for determining their current value.
(3)In the case of securities to which Part IV of this Act applies compliance by The Stock Exchange with the provisions of that Part shall be treated as compliance by it with sub-paragraph (2) above.
(4)The exchange must either have its own arrangements for ensuring the performance of transactions effected on the exchange or ensure their performance by means of services provided under clearing arrangements made by it with a recognised clearing house.
(5)The exchange must either itself have or secure the provision on its behalf of satisfactory arrangements for recording the transactions effected on the exchange.
(6)Sub-paragraphs (2), (4) and (5) above are without prejudice to the generality of sub-paragraph (1) above.
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