Paragraph 3 I1

United Kingdom

The exchange must have adequate arrangements for securing that—

(a)

parties to unsettled market contracts with a defaulter acting as principal are notified as soon as reasonably practicable of the default and of any decision taken under the rules in relation to contracts to which they are a party; and

(b)

parties to unsettled market contracts with a defaulter acting as agent and the defaulter’s principals are notified as soon as reasonably practicable of the default and of the identity of the other party to the contract.

Annotations

Commencement

I1: Sch. 21 wholly in force at 25.4.1991; Sch. 21 in force on 25.3.1991 insofar as is necessary to enable regulations to be made under para. 2(3) and wholly in force at 25.4.1991 see s. 215(2) and S.I. 1991/488, art. 2(2), 1991/878, art. 2, Sch.

Notes on Schedule 21

Textual amendments

F1: Sch. 21 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 75(p)