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Financial Services and Markets Act 2023
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- UK Public General Acts
- 2023 c. 29
- SCHEDULE 11
- PART 8
- Paragraph 155
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Recognised central counterparty
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155(1)In this Schedule “recognised central counterparty” has the meaning given by section 285 of FSMA 2000.
(2)But “recognised central counterparty” does not include a recognised clearing house (within the meaning of section 285 of FSMA 2000) which is also—
(a)a bank,
(b)a building society (within the meaning of section 119 of the Building Societies Act 1986),
(c)a credit union (within the meaning of section 31 of the Credit Unions Act 1979 or Article 2(2) of the Credit Unions (Northern Ireland) Order 1985), or
(d)an investment firm.
(3)Where a stabilisation power is exercised in respect of a recognised central counterparty, the body does not cease to be a recognised central counterparty for the purposes of this Schedule if the recognition order under Part 18 of FSMA 2000 is later revoked.
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