OpenLegislation

Paragraph 9

Original text. Later amendments are not shown.

Regulation 10 has effect as if—

(a)

every reference to “the CFD counterparty” is a reference to “a CFD counterparty”;

(b)

the words “by it” appeared after the words “to be collected” in paragraph (1)(a);

(c)

the words “to it” appeared after the words “reserve payment” in paragraph (1)(b) and in paragraph (4); and

(d)

in relation to a CFD counterparty designated under section 7 of the Act on or after 1st January 2015 there is no requirement for that CFD counterparty to determine a total reserve amount or the amount of each supplier’s reserve payment in respect of the first quarterly obligation period which commences after its designation, and therefore no such payments are required to be made to it in respect of that period.