http://www.legislation.gov.uk/ukpga/2012/21/section/28/2012-12-19Financial Services Act 2012An Act to amend the Bank of England Act 1998, the Financial Services and Markets Act 2000 and the Banking Act 2009; to make other provision about financial services and markets; to make provision about the exercise of certain statutory functions relating to building societies, friendly societies and other mutual societies; to amend section 785 of the Companies Act 2006; to make provision enabling the Director of Savings to provide services to other public bodies; and for connected purposes.texttext/xmlenStatute Law Database2026-08-122012-12-19 Financial Services Act 2012ActWater Act 2014s. 79(4)s. 94(3)Financial Services Act 2012ActWater Act 2014s. 81(10)s. 94(3) PART 2 281Section 285 of FSMA 2000 (exemption from general prohibition for recognised investment exchanges and recognised clearing houses) is amended as follows.2In subsection (2), for paragraph (b) substitute—bwhich is carried on for the purposes of, or in connection with, the provision by the exchange of services designed to facilitate the provision of clearing services by another person.3In subsection (3) for the words from “activity which” to the end substituteactivity— awhich is carried on for the purposes of, or in connection with, the provision of clearing services by the clearing house, orbwhich is carried on for the purposes of, or in connection with, the provision by the clearing house of services designed to facilitate the provision of clearing services by another person.4After that subsection insert—4The Treasury may by order amend paragraph (b) of subsection (2) or (3).