Regulation 59 Directions ceasing to have effectI1

United Kingdom

(1)

A direction given under section 10(1) of the Act ceases to have effect, if the specified person (or, if there is more than one specified person, any of them)—

(a)

rejects the offer to contract on the specified terms; or

(b)

does not accept the offer to contract on the specified terms before the expiry of the period specified pursuant to regulation 57(1)(c).

(2)

If a direction ceases to have effect in accordance with paragraph (1), the CFD counterparty must withdraw any offer of a contract that it has made in compliance with that direction.

Annotations

Commencement

I1: Reg. 59 in force at 1.8.2014, see reg. 1(1)