(1) If operating an MTF, an investment firm or market operator shall make public -
(a) any current bid and offer prices that are advertised through the systems of the investment firm or market operator, as the case may be, in respect of shares admitted to trading on a regulated market, and
(b) the depth of the trading interests at those prices,
on reasonable commercial terms and on a continuous basis during normal trading hours.
(2) On application by an investment firm or market operator, the Bank may waive the investment firm's or market operator's obligation to comply with subsection (1) if, in the cases defined in accordance with Commission Regulation EC 1287/2006,, the Bank considers the waiver appropriate based on the market model or the type and size of orders.
(3) Without limiting the generality of paragraph (2), the Bank may grant an application for a waiver under that paragraph for transactions that are large in scale compared with transactions of normal market size for t