559.This section makes clear that the prohibition of agreements preventing, restricting or distorting competition within the United Kingdom in Chapter I of the Competition Act 1998 does not apply to the constitution of a recognised investment exchange or clearing house or to a body which has applied for recognition; nor to the regulatory provisions of a recognised body; nor to a decision or practice of a recognised body, in respect of its regulatory functions; nor to an agreement the parties to which include a recognised body or person subject to its rules to the extent that the agreement is required or encouraged by the recognised body’s regulatory provisions or practices.
Commentary on Sections Part Xviii: Recognised Investment Exchanges and Clearing Houses Chapter III: Exclusion from the Competition Act 1998 Section 311: The Chapter I prohibition