Article 41 Duty to notify proposal to make regulatory provision

(1)

Paragraph (2) applies if, before the commencement date, a recognised clearing house—

(a)

had given notice to the Authority under section 300B^f1 (duty to notify proposal to make regulatory provision); and

(b)

had not made the regulatory provision to which the notice relates.

(2)

The notice is to be treated as if it had been given to the Bank of England.

Annotations

f1: Section 300B was inserted by the Investment Exchanges and Clearing Houses Act 2006, section 2 and is amended by the 2012 Act, Schedule 8, paragraph 19.