Article 371 Acquisition and disposal of securities by trustees etcI1

Article 7 of the Stock Exchange (Completion of Bargains) (Northern Ireland) Order 1977 (acquisition and disposal of securities by trustees etc.) is amended as follows.

In sub-paragraph (a) of paragraph (1)^f1, for the words from “a recognised” to “exchange” substitute “a financial institution”.

In sub-paragraph (b) of that paragraph, for “clearing house or nominee” substitute “financial institution”.

In that paragraph, the words after sub-paragraph (b) are repealed.

For paragraph (2) ^f2 substitute—

“(2)

“Financial institution” means—

(a)

a recognised clearing house acting in relation to a recognised investment exchange; or

(b)

a nominee of—

(i)

a recognised clearing house acting in that way, or

(ii)

a recognised investment exchange.

(3)

No person may be a nominee for the purposes of this Article unless he is a person designated for those purposes in the rules of the recognised investment exchange in question.

(4)

Expressions used in paragraphs (2) and (3) have the same meaning as in Part 18 of the Financial Services and Markets Act 2000.”.