Paragraph 32

In section 292(3) M1 (overseas investment exchanges and overseas clearing houses), for paragraph (a) substitute—

“(a)

investors are afforded protection equivalent to that which they would be afforded if the body concerned were required to comply with—

(i)

recognition requirements, other than any such requirements which are expressed in regulations under section 286 not to apply for the purposes of this paragraph, and

(ii)

requirements contained in any directly applicable EU regulation made under the markets in financial instruments directive or the markets in financial instruments regulation;”.