The Treasury may by regulations specify as a "relevant recognised body" for the purposes of this Chapter a type of recognised body mentioned in subsection (2).
The types of recognised bodies are—
recognised investment exchanges;
recognised central counterparties;
recognised CSDs.
Before making regulations under subsection (1), the Treasury—
must consult the FCA if it proposes to specify recognised investment exchanges (or recognised investment exchanges of a specified description);
must consult the Bank of England if it proposes to specify recognised central counterparties or recognised CSDs (or recognised central counterparties or recognised CSDs of a specified description);
in any case, must consult such persons as appear to it to be representative of interests likely to be affected by the application of this Chapter to the types, or descriptions, of bodies it proposes to specify.
In this Chapter, references to "the appropriate regulator" are to be read in accordance with section 285A (accordingly, the appropriate regulator in relation to a recognised investment exchange is the FCA, and in any other case is the Bank of England).
Nothing in this Chapter applies to overseas investment exchanges.