Regulation 29 Effect of non-compliance
(1)
Paragraph (2) applies where—
(a)
S has been entered on the credit default register as being in capacity market stage 1 credit default in respect of month M; and
(b)
either—
(i)
S does not comply with regulation 28(3)(b); or
(ii)
the Settlement Body gives S notice under regulation 28(4)(b) that credit cover provided by S under regulation 28(3)(b) is not approved, or approved only in part.
(2)
Where this paragraph applies, S must be entered by the Settlement Body on the credit default register as being in “capacity market stage 2 credit default” in respect of month M.