Investment Exchanges and Clearing Houses Act 2006
 | |
| Long title | An Act to confer power on the Financial Services Authority to disallow excessive regulatory provision by recognised investment exchanges and clearing houses; and for connected purposes. |
|---|---|
| Citation | 2006 c 55 |
| Introduced by | Gordon Brown, Chancellor of the Exchequer (Commons) Lord McKenzie of Luton, Lord-in-waiting (Lords) |
| Dates | |
| Royal assent | 19 December 2006 |
| Commencement | 20 December 2006[2] |
| History of passage through Parliament | |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
The Investment Exchanges and Clearing Houses Act 2006 (c 55) is an Act of the Parliament of the United Kingdom. It was intended to meet concerns[3] that recognised investment exchanges and clearing houses might introduce excessive regulation.[4] This Act is amended by articles 3 and 6 the Treaty of Lisbon (Changes in Terminology) Order 2011 (S.I. 2011/1043).
Section 1 - Power of FSA to disallow excessive regulatory provision
[edit]This section inserts section 300A of the Financial Services and Markets Act 2000.
Section 2 - Procedural and other supplementary provisions
[edit]This section inserts sections 300B to 300E of the Financial Services and Markets Act 2000.
Section 3 - Interim power to give directions about notification
[edit]This section ceased to have effect on 19 December 2007.[5]
Section 4 - Consequential amendment of grounds for refusing recognition
[edit]This section inserts section 290A of the Financial Services and Markets Act 2000.
References
[edit]- ^ The citation of this Act by this short title is authorised by section 5(1) of this Act.
- ^ The Investment Exchanges and Clearing Houses Act 2006, section 5(2)
- ^ As to the concerns, see the written ministerial statement by Ed Balls on Financial Services Regulation of 13 September 2006 - Hansard (House of Commons), vol. 449, cols. 125WS to 126WS - which was referred to during the Second Reading of the Bill for this Act. They related to the potential effects of a possible takeover of the London Stock Exchange by a company based outside of the United Kingdom.
- ^ Explanatory notes, paragraph 4
- ^ The Investment Exchanges and Clearing Houses Act 2006, section 3(8)
External links
[edit]- The Investment Exchanges and Clearing Houses Act 2006, as amended from the National Archives.
- The Investment Exchanges and Clearing Houses Act 2006, as originally enacted from the National Archives.
- Explanatory notes to the Investment Exchanges and Clearing Houses Act 2006.
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