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Part XVIIIU.K. Recognised Investment Exchanges and Clearing Houses

Modifications etc. (not altering text)

C1Pt. 18 applied in part (with modifications) (12.12.2011) by (The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), reg. 7, Sch. 2

[F1CHAPTER 1AU.K.CONTROL OVER RECOGNISED INVESTMENT EXCHANGE

Textual Amendments

Assessment procedureU.K.

301FAssessment: generalU.K.

(1) Where the [F2FCA] receives a section 301A notice, it must—

(a)determine whether to approve the acquisition to which it relates; or

(b)propose to object to the acquisition.

(2)In making its determination the [F2FCA] must—

(a)consider the suitability of the section 301A notice-giver and the financial soundness of the acquisition in order to ensure the sound and prudent management of the recognised investment exchange in question; and

(b)have regard to the likely influence that the section 301A notice-giver will have on the recognised investment exchange.

(3)The [F2FCA] may only object to an acquisition if it is not satisfied that the approval requirement is met.

(4)The approval requirement is that the acquisition in question by the notice-giver does not pose a threat to the sound and prudent management of any financial market operated by the recognised investment exchange.]

Textual Amendments

F2Word in s. 301F(1)-(3) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 26 (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.