Schedule 8 - Sections 26 to 31: minor and consequential amendments

Part of Financial Services Bill – in a Public Bill Committee at 9:30 am on 15th March 2012.

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Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury 9:30 am, 15th March 2012

This is a series of consequential amendments that deals with one matter. Clause 26 amends section 285 of FSMA to ensure that a recognised investment exchange that also acts as a central counter-party clearing house must be separately designated by the Bank of England as a recognised clearing house. We have discussed that divide. The amendments complete the necessary work of clause 26. They include in schedule 8 to the Bill the consequential amendments to other provisions in part 18 that refer to the term “clearing services” and the services offered under the exemptions specified in section 285, which will be changed under clause 26.