Textual Amendments
F1Pt. 2 Ch. 5A inserted (20.7.2012) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2012 (S.I. 2012/1906), arts. 1, 2(3)
24A.—(1) The reception, transmission or submission of a bid at an auction of an investment of the kind specified by article 82A conducted—
(a)on a recognised auction platform, or
(b)on any other auction platform which has been appointed under the emission allowance auctioning regulation,
is a specified kind of activity.
(2) An activity which falls within paragraph (1) (or would do so but for the exclusions in article 24B) does not form part of any other activity specified under any other article of this Order.
(3) In this article, “recognised auction platform” has the meaning given in regulation 1(3) of the Recognised Auction Platform Regulations 2011.
24B.—(1) There is excluded from article 24A any activity carried on by—
(a)an operator or an aircraft operator having an operator holding account, in either case bidding on its own account, including any parent undertaking, subsidiary undertaking or affiliate undertaking forming part of the same group of undertakings as the operator or the aircraft operator;
(b)business groupings of persons listed in sub-paragraph (a) bidding on their own account or acting as an agent on behalf of their members; or
(c)public bodies or state-owned entities of the Member States that control any of the persons listed in sub-paragraph (a).
(2) There is excluded from article 24A the reception, transmission or submission of a bid by an investment firm or a credit institution on any auction platform on their own account for investments of the kind specified by article 82A which are not financial instruments.
(3) In this article, the expressions “parent undertaking”, “subsidiary undertaking”, “affiliate undertaking”, “business grouping”, “public bodies” and “state-owned entities” have the same meaning as in the emission allowance auctioning regulation.]