# Companies Act 1989, Paragraph 15

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

(1) The rules and practices of the body, together with the law of the country in which the body’s head office is situated, must be such as to provide adequate procedures for dealing with the default of persons party to market contracts connected with the body.
(2) The reference in sub-paragraph (1) to default is to a person being unable to meet his obligations.

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Source: https://www.legislation.gov.uk/ukpga/1989/40/schedule/21/paragraph/15 (the official version)
Page: https://openlegislation.uk/companies-act-1989/schedule-21/paragraph-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.