Part XVIII Recognised Investment Exchanges and Clearing Houses

Chapter I Exemption

General

F1285APowers exercisable in relation to recognised investment exchanges and clearing houses

(1)

For the purposes of this Part, the FCA is “the appropriate regulator” in relation to recognised investment exchanges.

(2)

For the purposes of this Part, the Bank of England is “the appropriate regulator” in relation to recognised clearing houses.

(3)

In Schedule 17A—

(a)

Part 1 makes provision for a memorandum of understanding between the appropriate regulators F2, and between the FCA and the PRA, with respect to the exercise of their functions in relation to recognised investment exchanges and clearing houses;

(b)

Part 2 applies certain provisions of this Act in relation to the Bank of England in consequence of the conferring of functions on the Bank under this Part of this Act;

(c)

Part 3 makes provision relating to the winding up, administration or insolvency of F3recognised clearing houses; and

(d)

Part 4 makes provision about fees.