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Regulation 57 Directions under section 10 of the Act

Original text. Later amendments are not shown.

(1)

A direction given by the Secretary of State under section 10(1) of the Act must—

(a)

be in writing and be dated;

(b)

specify a date by which the CFD counterparty to whom it is given must comply with the direction; and

(c)

specify the period for which the CFD counterparty must keep the offer of a contract on the specified terms open for acceptance, subject to regulation 59.

(2)

The date specified in accordance with paragraph (1)(b) must be no earlier than 20 working days from and including the date on which the direction is given.