Section 312V Memorandum of understandingF1
The relevant regulators must prepare and maintain a memorandum which describes in general terms—
the role of the relevant regulators in relation to the exercise of functions conferred by or under this Chapter, and
how they intend to comply with section 312U in relation to the exercise of such functions.
The relevant regulators must review the memorandum at least once in each calendar year.
The relevant regulators may revise a memorandum under this section.
The relevant regulators must give the Treasury a copy of the memorandum and any revised memorandum.
The Treasury must lay before Parliament a copy of any document received by them under this section.
The relevant regulators must ensure that the memorandum as in force for the time being is published in the way appearing to them to be best calculated to bring it to the attention of the public.
The memorandum need not relate to any aspect of compliance with section 312U if the relevant regulators consider—
that publication of information about that aspect would be against the public interest, or
that aspect is a technical or operational matter not affecting the public.
Annotations
Textual amendments
- F1
Pt. 18 Ch. 3C inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 18(3), 86(3); S.I. 2023/779, reg. 4(m)
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)))