PART 8MISCELLANEOUS AMENDMENTS TO PRIMARY LEGISLATION
The Stock Exchange (Completion of Bargains) Act 1976 (c. 47)
Acquisition and disposal of securities by trustees etc289
1
Section 5 of the Stock Exchange (Completion of Bargains) Act 1976 (acquisition and disposal of securities by trustees etc.) is amended as follows.
2
In paragraph (a) of subsection (1)210, for the words from “a recognised” to “exchange” substitute “a financial institution”.
3
In paragraph (b) of that subsection, for “clearing house or nominee” substitute “financial institution”.
4
In that subsection, the words after paragraph (b) are repealed.
5
For subsection (2)211 substitute—
2
“Financial institution” means—
a
a recognised clearing house acting in relation to a recognised investment exchange; or
b
a nominee of—
i
a recognised clearing house acting in that way; or
ii
a recognised investment exchange.
3
No person may be a nominee for the purposes of this section unless he is a person designated for those purposes in the rules of the recognised investment exchange in question.
4
Expressions used in subsections (2) and (3) have the same meaning as in the Part 18 of the Financial Services and Markets Act 2000.