# Companies Act 1989, Paragraph 3

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

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.

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Source: https://www.legislation.gov.uk/ukpga/1989/40/schedule/21/paragraph/3 (the official version)
Page: https://openlegislation.uk/companies-act-1989/schedule-21/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.