Section 34(1)

A member of, or participant in, a regulated market or multilateral trading facility that acts as a general clearing member for other persons (“M”) must comply with the requirements set out in paragraph (2) if— M is established in the United Kingdom; M falls within paragraph (1A) of regulation 30; and M does not have a Part 4A permission to carry on a regulated activity which is any of the investment services and activities.

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