Part XVIII

Recognised Investment Exchanges and Clearing Houses
Chapter I

Exemption

Applications for recognition

Recognition orders
290
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.