§ Mr. IrvineTo ask the Chancellor of the Duchy of Lancaster whether leave has yet been given under section 120(2) of the Financial Services Act for the Securities and Investments Board to make recognition orders in respect of any investment exchanges or clearing houses.
§ Mr. Maude[pursuant to his reply, 25 April 1988, c. 47]: My right hon. and noble Friend has now considered, in accordance with the provisions of the Act, reports made by the Director General of Fair Trading on the rules, regulations, guidance and arrangements submitted by the international stock exchange of the United Kingdom and the Republic of Ireland Ltd. and the Baltic Futures Exchange Ltd. and has concluded that on the basis of the information presently available to him he does not consider there is anything in the material submitted which has, or is intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition. He has therefore given his leave to the SIB to make recognition orders in respect of both these investment exchanges.