The Financial Markets and Insolvency Regulations 1998
The Regulations apply the provisions of Part VII of the Companies Act 1989 (“the 1989 Act”) to certain contracts entered into by investment exchanges and clearing houses recognised in accordance with the provisions of the Financial Services Act 1986 (c. 60). The contracts concerned are those entered into by an exchange or clearing house with its members for the purpose of settling transactions in investments entered into by the member otherwise than on a recognised investment exchange.