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Part VIIU.K. Financial Markets and Insolvency

Modifications etc. (not altering text)

C1Pt. VII (ss. 154-191): functions of the Secretary of State transferred (7.6.1992) to the Treasury by S.I. 1992/1315, art. 2(1)(c) (with art. 6)

Pt. VII (ss. 154-191) applied (E.W.S.) (15.8.1995) by S.I. 1995/2049, reg.3; and applied (with modifications) (E.W.S.) (15.8.1995) by S.I. 1995/2049, regs.3,4,5,19, 26; and applied (with modifications) (15.7.1996) by S.I. 1996/1469, regs.3, 4, 5

C2Pt. VII: power to apply conferred (1.12.2001) by 2000 c. 8, s. 301(1)(a); S.I. 2001/3538, art. 2(1)

[F1Recognised bodies]U.K.

Textual Amendments

169 Supplementary provisions.U.K.

F2(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)[F3Sections 296 and 297 of the Financial Services and Markets Act 2000 apply] in relation to a failure by a recognised investment exchange or recognised clearing house to comply with an obligation under this Part as to a failure to comply with an obligation under that Act.

[F4(2A)Section 296 of the Financial Services and Markets Act 2000 applies in relation to a failure by a recognised CSD to comply with an obligation under this Part as to a failure to comply with an obligation under that Act.]

(3)Where the recognition of [F5an investment exchange, clearing house or central securities depository] is revoked under the [F6Financial Services and Markets Act 2000, the appropriate authority] may, before or after the revocation order, give such directions as [F7it] thinks fit with respect to the continued application of the provisions of this Part, with such exceptions, additions and adaptations as may be specified in the direction, in relation to cases where a relevant event of any description specified in the directions occurred before the revocation order takes effect.

[F8(3A)“The appropriate authority” means—

(a)in the case of an overseas investment exchange or clearing house, the Treasury;

[F9(b)in the case of a UK investment exchange, the FCA, F10...

(c)in the case of a UK clearing house, the Bank of England][F11, and

(d)in the case of a central securities depository, the Bank of England.]]

F2(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)[F12Regulations under section 414 of the Financial Services and Markets Act 2000 (service of notices) may make provision] in relation to a notice, direction or other document required or authorised by or under this Part to be given to or served on any person other than the [F13Treasury[F14, the FCA or the Bank of England]].

Textual Amendments

F2S. 169(1)(4) repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 75(g)

F3Words in s. 169(2) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 83(2)

F6Words in s. 169(3) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 83(3)(a)

F7Words in s. 169(3) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 83(3)(b)

F8S. 169(3A) inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 83(4)

F9S. 169(3A)(b)(c) substituted for s. 169(3A)(b) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 68(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F10Word in s. 169(3A)(b) omitted (28.11.2017) by virtue of The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 3(15)(c)(i) (with regs. 7(4), 9(1))

F12Words in s. 169(5) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 83(5)(a)

F13Words in s. 169(5) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 83(5)(b)

Modifications etc. (not altering text)

C3S. 169(3) applied (with modifications) (E.W.S.) (15.8.1995) by S.I. 1995/2049, reg. 28

Commencement Information

I1S. 169 partly in force: s. 169(1)(2)(3)(5) in force 25.4.1991 see s. 215(2) and S.I. 1991/878, art. 2, Sch.