Paragraph 155 Recognised central counterpartyI1I2
United Kingdom
In this Schedule “recognised central counterparty” has the meaning given by section 285 of FSMA 2000.
But “recognised central counterparty” does not include a recognised clearing house (within the meaning of section 285 of FSMA 2000) which is also—
a bank,
a building society (within the meaning of section 119 of the Building Societies Act 1986),
a credit union (within the meaning of section 31 of the Credit Unions Act 1979 or Article 2(2) of the Credit Unions (Northern Ireland) Order 1985), or
an investment firm.
Where a stabilisation power is exercised in respect of a recognised central counterparty, the body does not cease to be a recognised central counterparty for the purposes of this Schedule if the recognition order under Part 18 of FSMA 2000 is later revoked.
Annotations
Commencement
- I1
Sch. 11 para. 155 not in force at Royal Assent, see s. 86(3)
- I2
Sch. 11 para. 155 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)