Schedule 17A, Part 2, paragraph 17(3)

Section 192C has effect as if— the general condition in subsection (2) were that the Bank considers that it is desirable to give the direction for the purpose of the effective regulation of one or more recognised clearing houses or recognised CSDs in the group of the qualifying parent undertaking, subsections (3) and (4) were omitted, and the reference in subsection (5)(a) to authorised persons or recognised investment exchanges were a reference to recognised clearing houses or recognised CSDs.

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Source: legislation.gov.uk · retrieved 2026-09-04