Regulation 62 Special provisions applicable to controller holding for market nominee

This regulation shall apply during any period in which The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited, or (if that company is no longer the Operator) the Operator for the time being, is a Recognised Investment Exchange or Recognised Clearing House (within the meaning of the 1986 Act).

The Operator may perform the functions of a commercial controller with respect to any entitlements to units of a security held or to be held for a nominee appointed by the Operator in its capacity as such an Exchange or Clearing House, but in performing those functions the Operator shall only be subject to any requirements imposed on it by any rules made under regulation 112.