Regulation 34 Netting agreementsF1

United Kingdom

(1)

The effects of a relevant reorganisation or a relevant winding up on a netting agreement shall be determined in accordance with the law applicable to that agreement.

(2)

Nothing in paragraph (1) affects the application of—

(a)

section 48Z of the Banking Act 2009 ;

(b)

section 70C of the Banking Act 2009 ;

F2(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d)

any instrument made under the provisions referred to in sub-paragraph (a) or (b).

Annotations

Textual amendments

F1: Reg. 34 substituted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 10(9)
F2: Reg. 34(2)(c) omitted (31.12.2020) by virtue of The Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/38), regs. 1(3), 3(16) (with Pt. 3 Ch. 1) (as amended by S.I. 2020/1301, reg. 3, Sch. para. 13(c)-(f)); 2020 c. 1, Sch. 5 para. 1(1)

Notes on Part 4

Textual amendments

F1: Words in Pt. 4 heading omitted (31.12.2020) by virtue of The Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/38), regs. 1(3), 3(10) (with Pt. 3 Ch. 1) (as amended by S.I. 2020/1301, reg. 3, Sch. para. 13(c)-(f)); 2020 c. 1, Sch. 5 para. 1(1)