Part XVIIIRecognised Investment Exchanges and Clearing Houses
Chapter IExemption
Applications for recognition
290Recognition orders
(1)
If it appears to the Authority that the applicant satisfies the recognition requirements applicable in its case, the Authority may make a recognition order declaring the applicant to be—
(a)
a recognised investment exchange, if the application is made under section 287;
(b)
a recognised clearing house, if it is made under section 288.
(2)
The Treasury’s approval of the making of a recognition order is required under section 307.
(3)
In considering an application, the Authority may have regard to any information which it considers is relevant to the application.
(4)
A recognition order must specify a date on which it is to take effect.
(5)
Section 298 has effect in relation to a decision to refuse to make a recognition order—
(a)
as it has effect in relation to a decision to revoke such an order; and
(b)
as if references to a recognised body were references to the applicant.
(6)
Subsection (5) does not apply in a case in which the Treasury have failed to give their approval under section 307.