Paragraph 3

in subsection (3), after paragraph (b) insert—

“;

(c)

a programme of operations which includes the types of business the applicant proposes to undertake and the applicant’s proposed organisational structure;

(d)

such particulars of the persons who effectively direct the business and operations of the exchange as the Authority may reasonably require;

(e)

such particulars of the ownership of the exchange, and in particular of the identity and scale of interests of the persons who are in a position to exercise significant influence over the management of the exchange, whether directly or indirectly, as the Authority may reasonably require.”;

after subsection (3) insert—

“(4)

Subsection (3)(c) to (e) does not apply to an application by an overseas applicant.”.