{
  "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-1991/regulation-3",
  "json_url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-1991/regulation-3.json",
  "legislation": "uksi/1991/880",
  "legislation_title": "The Financial Markets and Insolvency Regulations 1991",
  "legislation_url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-1991",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Further provision as to market contracts",
  "text": "For subsection (2) of section 155 of the Act (market contracts) substitute—\n“(2) Except as provided in subsection (2A), in relation to a recognised investment exchange this Part applies to—\n(a) contracts entered into by a member or designated non-member of the exchange which are either\n(i) contracts made on the exchange or on an exchange to whose undertaking the exchange has succeeded whether by amalgamation, merger or otherwise; or\n(ii) contracts in the making of which the member or designated non-member was subject to the rules of the exchange or of an exchange to whose undertaking the exchange has succeeded whether by amalgamation, merger or otherwise; and\n(b) contracts subject to the rules of the exchange entered into by the exchange for the purposes of or in connection with the provision of clearing services.\nA “designated non-member” means a person in respect of whom action may be taken under the default rules of the exchange but who is not a member of the exchange.\n(2A) This Part does not apply to contracts falling within paragraph (a) of subsection (2) above where the exchange in question is a recognised overseas investment exchange.”.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 3 in force at 25.4.1991, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1991/880/regulation/3",
    "retrieved_at": "2026-10-29T14:46:16.241256+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}