Part XVIIIRecognised investment exchanges, clearing houses , CSDs and other parties

Chapter I Exemption

Supervision

F1295A.On-site inspection of F2United Kingdom branches of third country CSDs

(1)

For the purposes of F3Article 25(11) of the CSD regulation, the Bank of England may, on giving reasonable notice and at any reasonable time, carry out an on-site inspection of any branch maintained by F4a third country CSD in the United Kingdom.

F5(2)

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(3)

The Bank of England’s power under subsection (1) is enforceable, on the application of the Bank of England, by an injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.