3. In regulation 2 of the Principal Regulations in the definition of “accountable person” for paragraph (a) there shall be substituted —
“(a)in relation to a charge under section 87(1) of the Act (“section 87”) —
(i)if the person mentioned as B in section 87(1) is a market maker or broker and dealer, or if a broker and dealer is acting as an agent for B who is not a market maker or broker and dealer, the market maker or broker and dealer, and failing that
(ii)if the person mentioned as A in section 87(1) is a market maker or broker and dealer, or if a broker and dealer is acting as an agent for A who is not a market maker or broker and dealer, the market maker or broker and dealer, and failing that
(iii)if the person mentioned as B in section 87(1) is a qualified dealer, or if a qualified dealer is acting as an agent for B who is not a qualified dealer, the qualified dealer, and failing that
(iv)if the person mentioned as A in section 87(1) is a qualified dealer, or if a qualified dealer is acting as an agent for A who is not a qualified dealer, the qualified dealer, and failing that
(v)the person mentioned as B in section 87(1),”.
Section 87 was amended by the Finance Act 1987 (c. 16), Schedule 7, paragraph 2.