Financial Services and Markets Act 2000 (c. 8)

Part XVIII U.K. Recognised Investment Exchanges and Clearing Houses

Chapter I U.K. Exemption

General U.K.

285 Exemption for recognised investment exchanges and clearing houses. U.K.

(1) In this Act—

(a) “recognised investment exchange” means an investment exchange in relation to which a recognition order is in force; and

(b) “recognised clearing house” means a clearing house in relation to which a recognition order is in force.

(2) A recognised investment exchange is exempt from the general prohibition as respects any regulated activity—

(a) which is carried on as a part of the exchange’s business as an investment exchange; or

(b) which is carried on for the purposes of, or in connection with, the provision of clearing services by the exchange.

(3) A recognised clearing house is exempt from the general prohibition as respects any regulated activity which is carried on for the purposes of, or in connection with, the provision of clearing services by the clearing house.