Section 65 of the Stock Exchange Act, 1995, is hereby amended -
(a) in subsection (7) by the substitution for "may dismiss the application or may make a determination that" of "may make a determination as to whether", and
(b) in subsection (8) by the insertion after "section" of "within two months of the date of that determination or such further period as the Court thinks fit and the Court may vary or annual the determination of the Committee",
and those subsections as so amended are set out in the Table to this section.
Table
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(7) Following an inquiry by a Committee appointed under subsection (5) of this section, that Committee may make a determination as to whether there has been a breach of a condition or requirement and may do all or any of the following— |
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(a) issue a reprimand to an approved stock exchange or a member firm, |
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(b) direct that an approved stock exchange or member firm shall pay the Bank a specified sum, not to exceed £500,000, in respect of any breach of |