Bond Washing

Part of New Clause 19 – in the House of Commons at 3:46 pm on 15th July 1991.

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"(2A) Subsection (1) above shall not apply in prescribed circumstances if—

  1. (a) the first buyer is—
    1. (i) a prescribed recognised clearing house, or
    2. (ii) a member, of a prescribed class or description, of a prescribed recognised investment exchange, and
  2. (b) the subsequent sale is carried out by the first buyer after a prescribed date and in the ordinary course of his business."