Paragraph 65 I1

(1)

Section 157 (change in default rules) is amended as follows.

(2)

In subsection (1)—

(a)

for “Authority”, in the first place, substitute “ appropriate regulator ”, and

(b)

for “Authority”, in the second place, substitute “ regulator ”.

(3)

At the end insert—

“(4)
The appropriate regulator”—
(a)
in relation to a recognised UK investment exchange, means the FCA, and
(b)
in relation to a recognised UK clearing house, means the Bank of England.”

Annotations

Commencement

I1: Sch. 18 para. 65 in force at 1.4.2013 by S.I. 2013/423, art. 3, Sch.