Schedule 11, Part 8, paragraph 155

In this Schedule “recognised central counterparty” has the meaning given by section 285 of FSMA 2000. But “recognised central counterparty” does not include a recognised clearing house (within the meaning of section 285 of FSMA 2000) which is also— a bank, a building society (within the meaning of section 119 of the Building Societies Act 1986), a credit union (within the meaning of section 31 of the Credit Unions Act 1979 or Article 2(2) of the Credit Unions (Northern Ireland) Order 1985), or an investment firm. Where a stabilisation power is exercised in respect of a recognised central counterparty, the body does not cease to be a recognised central counterparty for the purposes of this Schedule if the recognition order under Part 18 of FSMA 2000 is later revoked.

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