Paragraph 2

United Kingdom

(1)

The rules and practices of the exchange must ensure that business conducted by means of its facilities is conducted in an orderly manner and so as to afford proper protection to investors.

(2)

The exchange must—

(a)

limit dealings on the exchange to investments in which there is a proper market; and

(b)

where relevant, require issuers of investments dealt in on the exchange to comply with such obligations as will, so far as possible, afford to persons dealing in the investments proper information for determining their current value.

F1(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

The exchange must either have its own arrangements for ensuring the performance of transactions effected on the exchange or ensure their performance by means of services provided under clearing arrangements made by it with a recognised clearing house.

(5)

The exchange must either itself have or secure the provision on its behalf of satisfactory arrangements for recording the transactions effected on the exchange.

(6)

Sub-paragraphs (2), (4) and (5) above are without prejudice to the generality of sub-paragraph (1) above.

Annotations

Textual amendments

F1: Sch. 4 para. 2(3) repealed (1.5.2000) by S.I. 2000/968, art. 9

Notes on the whole Act

Textual amendments

F1: Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(c) (with savings in art. 292)

Notes on Schedule 4

Modifications

C1: Sch. 4 modified (1.3.1994) by S.I. 1994/188, reg. 4(a)