Schedule 11, Part 5, paragraph 32(4)

The power under sub-paragraph (1) does not apply to a clearing member— which is an interoperable CCP, which falls within Article 1(4) or (5) of EMIR, or in relation to which a direction under regulation 3(1)(f) of the Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019 (S.I. 2019/541) is in force.

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