Part 1 New Chapter 2A of Part 18 of FSMA 2000
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

SCHEDULE 10 Performance of Functions Relating to Financial Market Infrastructure

Section 56

Part 1 New Chapter 2A of Part 18 of FSMA 2000

1

In Part 18 of FSMA 2000 (recognised investment exchanges, clearing houses and CSDs), before Chapter 3B insert—

“Chapter 2A
Performance of Functions of Recognised Bodies
Relevant recognised bodies
309A Recognised bodies to which this Chapter applies

(1)     The Treasury may by regulations specify as a “relevant recognised body†for the purposes of this Chapter a type of recognised body mentioned in subsection (2).

(2)     The types of recognised bodies are—

(a)     recognised investment exchanges;

(b)     recognised central counterparties;

(c)     recognised CSDs.

(3)     Before making regulations under subsection (1), the Treasury—

(a)     must consult the FCA if it proposes to specify recognised investment exchanges (or recognised investment exchanges of a specified description);

(b)     must consult the Bank of England if it proposes to specify recognised central counterparties or recognised CSDs (or recognised central counterparties or recognised CSDs of a specified description);

(c)     in any case, must consult such persons as appear to it to be representative of interests likely to be affected by the application of this Chapter to the types, or descriptions, of bodies

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