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Regulation 11 Acting as a general clearing member

Original text. Later amendments are not shown.

In regulation 34, in paragraph (1)—

(a)

in sub-paragraph (a), for “M’s home Member State is” substitute “M is established in”;

(b)

for sub-paragraph (b), substitute—

“(b)

M falls within paragraph (1A) of regulation 30; and”;

(c)

in sub-paragraph (c), for “for the purposes of the directive” substitute “to carry on a regulated activity which is any of the investment services and activities”.