{
  "url": "https://openlegislation.uk/credit-institutions-reorganisation-and-winding-up-regulations-2004/regulation-34",
  "json_url": "https://openlegislation.uk/credit-institutions-reorganisation-and-winding-up-regulations-2004/regulation-34.json",
  "legislation": "uksi/2004/1045",
  "legislation_title": "The Credit Institutions (Reorganisation and Winding up) Regulations 2004",
  "legislation_url": "https://openlegislation.uk/credit-institutions-reorganisation-and-winding-up-regulations-2004",
  "path": "regulation/34",
  "kind": "regulation",
  "number": "34",
  "heading": "Netting agreements",
  "text": "(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.\n(2) Nothing in paragraph (1) affects the application of—\n(a) section 48Z of the Banking Act 2009 ;\n(b) section 70C of the Banking Act 2009 ;\n(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(d) any instrument made under the provisions referred to in sub-paragraph (a) or (b).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2004/1045/regulation/34",
    "retrieved_at": "2026-10-29T05:27:52.164786+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}