Part XXVIII Miscellaneous

International obligations

C1410 International obligations.

1

If it appears to the Treasury that any action proposed to be taken by a relevant person would be incompatible with F1EU obligations or any other international obligations of the United Kingdom, they may direct that person not to take that action.

2

If it appears to the Treasury that any action which a relevant person has power to take is required for the purpose of implementing any such obligations, they may direct that person to take that action.

3

A direction under this section—

a

may include such supplemental or incidental requirements as the Treasury consider necessary or expedient; and

b

is enforceable, on an application made by the Treasury, by injunction or, in Scotland, by an order for specific performance under section 45 of the M1Court of Session Act 1988.

4

“Relevant person” means—

a

the Authority;

b

any person exercising functions conferred by Part VI on the competent authority;

c

any recognised investment exchange (other than one which is an overseas investment exchange);

d

any recognised clearing house (other than one which is an overseas clearing house);

e

a person included in the list maintained under section 301; or

f

the scheme operator of the ombudsman scheme.