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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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287A. Application by an investment exchange: persons connected with an applicant

Omitted from 31 December 2020

(1) Subsection (2) applies where -

(a) a body corporate or unincorporated association ("A") makes an application under section 287 for an order declaring it to be a recognised investment exchange; and

(b) A is -

(i) connected with an EEA credit institution or EEA insurance undertaking; or

(ii) controlled by a person who also controls an EEA credit institution or EEA insurance undertaking.

(2) Before making a recognition order declaring A to be a recognised investment exchange under section 290, the FCA must consult the competent authority responsible for the supervision of the EEA credit institution or EEA insurance undertaking.

(3) A is connected with an EEA credit institution or EEA insurance undertaking if -

(a) A is a subsidiary undertaking of the EEA credit institution or EEA insurance undertaking; or

(b) A is a subsidiary undertaking of a parent undertaking of the EEA credit institution or EEA insurance undertaking.

(4) In this section -

"control" has the same meaning as in

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