PART 1Regulatory framework

CHAPTER 2New regulatory powers

Financial market infrastructure: general rules and requirements

I1I212Treasury directions to Bank of England: restrictions

1

Section 4 of the Bank of England Act 1946 (Treasury directions to the Bank) is amended as follows.

2

In subsection (1), after paragraph (b) insert—

c

the exercise by the Bank of its functions under any enactment in relation to the following bodies—

i

recognised central counterparties;

ii

recognised CSDs;

iii

third country central counterparties;

iv

third country CSDs.

3

After subsection (1) insert—

2A

Expressions used in subsection (1)(c) have the same meaning as in section 285 of the Financial Services and Markets Act 2000 (exemption for recognised bodies etc).