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Article 34 Recognition orders for recognised clearing houses

Original text. Later amendments are not shown.

(1)

Paragraph (2) applies if, before the commencement date, the Authority—

(a)

had made a recognition order under section 290 or section 292 declaring the applicant to be a recognised clearing house; and

(b)

had not revoked the recognition order.

(2)

The recognition order is to be treated as if it had been made by the Bank of England.