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Section 285A Powers exercisable in relation to recognised bodies etcF1F8F9

United Kingdom

(1)

For the purposes of this Part, the FCA is “the appropriate regulator” in relation to recognised investment exchanges.

(2)

For the purposes of this Part, the Bank of England is “the appropriate regulator” in relation to recognised clearing houses F2and recognised CSDs.

(3)

In Schedule 17A—

(a)

Part 1 makes provision for a memorandum of understanding between the appropriate regulators F3, and between the FCA and the PRA, with respect to the exercise of their functions in relation to recognised F4bodies;

(b)

Part 2 applies certain provisions of this Act in relation to the Bank of England in consequence of the conferring of functions on the Bank under this Part of this Act F5or as a consequence of conferring other FMI functions on the Bank;

(c)

Part 3 makes provision relating to the winding up, administration or insolvency of F6recognised clearing houses F7and recognised CSDs; and

(d)

Part 4 makes provision about fees.

Annotations

Textual amendments

F1

S. 285A inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 29(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b), Sch. Pt. 2; S.I. 2013/423, art. 3, Sch.

F2

Words in s. 285A(2) substituted (31.12.2020) by The Investment Exchanges, Clearing Houses and Central Securities Depositories (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/662), regs. 1(3), 5(3) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F3

Words in s. 285A(3)(a) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 43 (with Sch. 3); S.I. 2017/43, reg. 2(g)

F4

Word in s. 285A(3)(a) substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(10)(c)(i) (with regs. 7(4), 9(1))

F5

Words in s. 285A(3)(b) inserted (1.1.2024 at 1.00 a.m. for specified purposes, 1.8.2024 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), ss. 50(2)(b), 86(3); S.I. 2023/1382, regs. 10(f), 11(b)

F6

Words in s. 285A(3)(c) substituted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 3(4) (with regs. 52-58)

F7

Words in s. 285A(3)(c) inserted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(10)(c)(ii) (with regs. 7(4), 9(1))

F8

S. 285A heading substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(10)(a) (with regs. 7(4), 9(1))

F9

Word in s. 285A heading inserted (1.1.2024 at 1.00 a.m. for specified purposes, 1.8.2024 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), ss. 50(2)(a), 86(3); S.I. 2023/1382, regs. 10(f), 11(b)

Notes on Part XVIII

Textual amendments

F1

Pt. 18 heading substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(8) (with regs. 7(4), 9(1))

F2

Words in Pt. 18 heading substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 18(2), 86(3); S.I. 2023/779, reg. 4(m)

Modifications

C1

Pt. 18 applied in part (with modifications) (12.12.2011) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), reg. 7, Sch. 2 (as amended (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 37 (with regs. 7(4), 9(1)))