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Companies Act 1989

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This is the original version (as it was originally enacted).

205Requirements for recognition of investment exchange

(1)In Schedule 4 to the Financial Services Act 1986 (requirements for recognition of investment exchange), after paragraph 5 insert—

Supplementary

6(1)The provisions of this Schedule relate to an exchange only so far as it provides facilities for the carrying on of investment business; and nothing in this Schedule shall be construed as requiring an exchange to limit dealings on the exchange to dealings in investments.

(2)The references in this Schedule, and elsewhere in this Act, to ensuring the performance of transactions on an exchange are to providing satisfactory procedures (including default procedures) for the settlement of transactions on the exchange..

(2)The above amendment shall be deemed always to have had effect.

(3)In section 207(1) of the Financial Services Act 1986 (interpretation), at the appropriate place insert—

“ensure” and “ensuring”, in relation to the performance of transactions on an investment exchange, have the meaning given in paragraph 6 of Schedule 4 to this Act;.

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