Part XVIII Recognised Investment Exchanges and Clearing Houses

Chapter I Exemption

F2Power to disallow excessive regulatory provision

Annotations:
Amendments (Textual)
F2

S. 300A and cross-heading inserted (20.12.2006) by Investment Exchanges and Clearing Houses Act 2006 (c. 55), ss. 1, 5(2) (with s. 5(3))

F1300BF1Duty to notify proposal to make regulatory provision

1

A recognised body that proposes to make any regulatory provision must give written notice of the proposal to the Authority without delay.

2

The Authority may by rules under section 293 (notification requirements)—

a

specify descriptions of regulatory provision in relation to which, or circumstances in which, the duty in subsection (1) above does not apply, or

b

provide that the duty applies only to specified descriptions of regulatory provision or in specified circumstances.

3

The Authority may also by rules under that section—

a

make provision as to the form and contents of the notice required, and

b

require the body to provide such information relating to the proposal as may be specified in the rules or as the Authority may reasonably require.