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11.—(1) If ITMA and CIPA are satisfied that it would be appropriate for them to act jointly in establishing and maintaining indemnification arrangements or compensation arrangements, the powers which are conferred on ITMA by virtue of paragraphs 9(1) and (2) and 10(1) and (2) may each be exercised so as to create a single set of arrangements which apply to—
(a)both registered persons and regulated persons as defined in paragraph 14 of this Schedule and registered persons and regulated persons as defined in paragraph 14 of Schedule 2; or
(b)both persons within paragraph 10(1)(a) or (b) of this Schedule and persons within 10(1)(a) or (b) of Schedule 2; or
(c)both persons within paragraph (a) and persons within paragraph (b).
(2) Where indemnification arrangements or compensation arrangements made by virtue of this paragraph require any registered person (as defined in paragraph 14 of this Schedule) or licensed body to make contributions to the same fund or towards the same insurance policy, anything that may be done in relation to the fund or the insurance policy may be done irrespective of the persons or bodies who contributed the money.
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