Part XVIIIRecognised investment exchanges, clearing houses , CSDs and other parties
Chapter I Exemption
Power to disallow excessive regulatory provision
F1300BDuty to notify proposal to make regulatory provision
(1)
A recognised body that proposes to make any regulatory provision must give written notice of the proposal to the F2appropriate regulator without delay.
(2)
The F2appropriate regulator may by rules under section 293 (notification requirements)—
(a)
specify descriptions of regulatory provision in relation to which, or circumstances in which, the duty in subsection (1) above does not apply, or
(b)
provide that the duty applies only to specified descriptions of regulatory provision or in specified circumstances.
(3)
The F2appropriate regulator may also by rules under that section—
(a)
make provision as to the form and contents of the notice required, and
(b)
require the body to provide such information relating to the proposal as may be specified in the rules or as the F2appropriate regulator may reasonably require.