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Regulation 19 Power to direct a CFD counterparty: CFDs under section 10 of the ActF1F2

(1)

This paragraph applies in relation to a CFD entered into by virtue of a direction given under section 10(1) of the Act after the date on which this regulation comes into force.

(2)

The Secretary of State may give a notice (“a regulation 19 direction notice”) to a CFD counterparty that requires the CFD counterparty to implement amendments relating to the sustainability obligations in a CFD of the sort described in paragraph (1).

(3)

But the Secretary of State may not give a regulation 19 direction notice if the Secretary of State is of the opinion that the amendments would reduce or undermine sustainability obligations in a CFD to which the notice applies.

(4)

A regulation 19 direction notice must specify—

(a)

the amendments the CFD counterparty must effect,

(b)

the CFDs in relation to which the amendments must be made, and

(c)

the date by which the amendments must take effect.

(5)

The Secretary of State must publish a regulation 19 direction notice.

Annotations

Textual amendments

F1

Pt. 6 inserted (20.7.2016) by The Contracts for Difference (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/784), regs. 1(1), 26

F2

Reg. 19 inserted (26.6.2025) by The Contracts for Difference (Miscellaneous Amendments) (No. 2) Regulations 2025 (S.I. 2025/772), regs. 1(1), 3(3)