SCHEDULE 2Modifications of Part 18 of the Act in relation to recognised auction platforms
1
In section 285(2), reference to the exchange’s business as an investment exchange includes a reference to its business as an auction platform.
2
In section 291(3), reference to the obligations to which the body is subject under or by virtue of the Act is to be read as including a reference to the obligations to which it is subject under these Regulations or under the emission allowance auctioning regulation.
3
In section 292A15—
a
in subsection (1) reference to a recognition order is to be read as including a reference to a recognition order under regulation 2 of these Regulations;
b
in subsections (2) and (4) references to the management of the exchange are to be read as including references to the management of the auction platform.
4
In section 293, in subsection (6)(a), reference to transactions effected on the exchange is to be read as including a reference to transactions effected on the auction platform.
5
In section 293A16, reference to any directly applicable Community regulation made under the markets in financial instruments directive is to be read as including a reference to any requirements under the emission allowance auctioning regulation to which the recognised investment exchange is subject as the operator of an auction platform.
6
In section 299(2), reference to whether the body concerned should remain a recognised body is to be read as including whether it should remain a recognised auction platform.
7
In section 300—
a
in subsection (1)(a), reference to a recognition order under section 290 is to be read as including a reference to a recognition order under regulation 2 of these Regulations;
b
in subsection (4), reference to the rules of an investment exchange is to be read as including a reference to rules made in relation to an auction platform.
8
In section 301F(4), reference to any financial market operated by the recognised investment exchange is to be read as including a reference to any auction platform operated by it.
9
Sections 290A, 300A to 300E, and sections 302 to 310 do not apply to a recognised investment exchange in its capacity as a recognised auction platform.