Paragraph 20
Regulation 21 has effect as if—
(a)
the first reference to “the CFD counterparty” in paragraphs (1), (2), (4) and (5), and the reference to it in paragraph (3), are to “a CFD counterparty” and all other references in that regulation to “the CFD counterparty” are to “that CFD counterparty”; and
(b)
the words “to that CFD counterparty” appeared—
(i)
after the words “relevant payment” in paragraph (2),
(ii)
before the words “is the lesser of” in paragraph (3),
(iii)
after the words “collateral provided” in paragraph (3)(a), and
(iv)
after the words “failed to make” in paragraph (3)(b).