# The Uncertificated Securities Regulations 1995, Paragraph 7


(1) No course of conduct constituting any such practice as is mentioned in paragraph 1(2) shall constitute an anti-competitive practice for the purpose of the Competition Act 1980.
(2) Where approval is withdrawn from an Operator, there shall not be treated as an anti-competitive practice for the purposes of that Act any such course of conduct as is mentioned in subparagraph (1) which occurred while the approval was effective.

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Source: https://www.legislation.gov.uk/uksi/1995/3272/schedule/2/paragraph/7 (the official version)
Page: https://openlegislation.uk/uncertificated-securities-regulations-1995/schedule-2/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.