Section 8 Duties of a CFD counterparty
(1)
A CFD counterparty must act in accordance with—
(a)
any direction given by the Secretary of State by virtue of this Chapter;
(b)
any provision included in regulations.
(2)
A CFD counterparty must exercise the functions conferred by or by virtue of this Chapter to ensure that it can meet its liabilities under any CFD to which it is a party.
(3)
In this Chapter “national system operator” means the person F1designated as the Independent System Operator and Planner under section 162 of the Energy Act 2023.
Annotations
Textual amendments
- F1
Words in s. 8(3) substituted (1.10.2024) by The Energy Act 2023 (Consequential Amendments) Regulations 2024 (S.I. 2024/706), regs. 1(1), 9(2); S.I. 2024/957, reg. 2(a)