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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 January 2022 - onwards
Version 3 of 3

Regulation 38 Transitional provision: recognition of overseas investment exchanges

(1) Where an application under section 287(1) of the Financial Services and Markets Act 2000 [Section 287 has been amended by paragraph 3 of Schedule 8 to the Financial Services Act 2012 (c.21) and S.I. 2007/126.] (application by an investment exchange) is made, and the conditions in paragraph (2) are satisfied, the requirement in section 292(3)(d) of that Act [Section 292(3)(d) and (5)(c) have been amended by paragraph 8 of Schedule 8 to the Financial Services Act 2012.] (overseas investment exchanges and overseas clearing houses) does not apply to the determination of the application.

(2) The conditions in this paragraph are that the application is -

(a) made by an EEA market operator at any time before IP completion day, and

(b) determined by the Financial Conduct Authority -

(i) on or after the day on which this regulation comes into force, and

(ii) before two years beginning with IP completion day.

(3) [deleted]

(4) Paragraph (3) ceases to have effect after the period of two years beginning with IP completion day.

(5) In this regulation -