Section 285(3)

A recognised clearing house which is not a recognised central counterparty is exempt from the general prohibition as respects any regulated activity— which is carried on for the purposes of, or in connection with, the provision of clearing services by the clearing house, or which is carried on for the purposes of, or in connection with, the provision by the clearing house of services designed to facilitate the provision of clearing services by another person.

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