[F1285A [F2Powers exercisable in relation to recognised bodies] [F3etc] U.K.
(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 [F4and recognised CSDs].
(3)In Schedule 17A—
(a)Part 1 makes provision for a memorandum of understanding between the appropriate regulators [F5, and between the FCA and the PRA,] with respect to the exercise of their functions in relation to recognised [F6bodies];
(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 [F7or as a consequence of conferring other FMI functions on the Bank];
(c)Part 3 makes provision relating to the winding up, administration or insolvency of [F8recognised clearing houses] [F9and recognised CSDs]; and
(d)Part 4 makes provision about fees.]
Textual Amendments
F1S. 285A inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 29(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b), Sch. Pt. 2; S.I. 2013/423, art. 3, Sch.
F2 S. 285A heading substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(10)(a) (with regs. 7(4), 9(1))
F3Word in s. 285A heading inserted (1.1.2024 at 1.00 a.m. for specified purposes) by Financial Services and Markets Act 2023 (c. 29), ss. 50(2)(a), 86(3); S.I. 2023/1382, reg. 10(f)
F4Words in s. 285A(2) substituted (31.12.2020) by The Investment Exchanges, Clearing Houses and Central Securities Depositories (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/662), regs. 1(3), 5(3) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F5Words in s. 285A(3)(a) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 43 (with Sch. 3); S.I. 2017/43, reg. 2(g)
F6Word in s. 285A(3)(a) substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(10)(c)(i) (with regs. 7(4), 9(1))
F7Words in s. 285A(3)(b) inserted (1.1.2024 at 1.00 a.m. for specified purposes) by Financial Services and Markets Act 2023 (c. 29), ss. 50(2)(b), 86(3); S.I. 2023/1382, reg. 10(f)
F8Words in s. 285A(3)(c) substituted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 3(4) (with regs. 52-58)
F9Words in s. 285A(3)(c) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(10)(c)(ii) (with regs. 7(4), 9(1))