C1 Part XVIII Recognised Investment Exchanges and Clearing Houses
Chapter I Exemption
Supervision
300 Extension of functions of Tribunal.
1
If the Treasury are satisfied that the condition mentioned in subsection (2) is satisfied, they may by order confer functions on the Tribunal with respect to disciplinary proceedings—
a
of one or more investment exchanges in relation to which a recognition order under section 290 is in force or of such investment exchanges generally, or
b
of one or more clearing houses in relation to which a recognition order under that section is in force or of such clearing houses generally.
2
The condition is that it is desirable to exercise the power conferred under subsection (1) with a view to ensuring that—
a
decisions taken in disciplinary proceedings with respect to which functions are to be conferred on the Tribunal are consistent with—
i
decisions of the Tribunal in cases arising under Part VIII; and
ii
decisions taken in other disciplinary proceedings with respect to which the Tribunal has functions as a result of an order under this section; or
b
the disciplinary proceedings are in accordance with the Convention rights.
3
An order under this section may modify or exclude any provision made by or under this Act with respect to proceedings before the Tribunal.
4
“Disciplinary proceedings” means proceedings under the rules of an investment exchange or clearing house in relation to market abuse by persons subject to the rules.
5
“The Convention rights” has the meaning given in section 1 of the M1Human Rights Act 1998.
Pt. 18 applied in part (with modifications) (12.12.2011) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), reg. 7, Sch. 2 (as amended (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 37 (with regs. 7(4), 9(1)))