# Companies Act 1989, Paragraph 14

Extent: E+W+S+N.I.

(1) The rules of the clearing house must provide that, in the event of a default, margin provided by the defaulter for his own account is not to be applied to meet a shortfall on a client account.
(2) This is without prejudice to the requirements of any relevant regulations under section 55 of the Financial Services Act 1986 (clients’ money).

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Source: https://www.legislation.gov.uk/ukpga/1989/40/schedule/21/paragraph/14 (the official version)
Page: https://openlegislation.uk/companies-act-1989/schedule-21/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.