{
  "url": "https://openlegislation.uk/eu-regulation-2018-1229/article-22",
  "json_url": "https://openlegislation.uk/eu-regulation-2018-1229/article-22.json",
  "legislation": "eur/2018/1229",
  "legislation_title": "Commission Delegated Regulation (EU) 2018/1229 of 25 May 2018 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on settlement discipline (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2018-1229",
  "path": "article/22",
  "kind": "article",
  "number": "22",
  "heading": "Ineffective buy-in process",
  "text": "1. For the purposes of point (b) of Article 7(4) of Regulation (EU) No 909/2014, the following operations shall be considered to be composed of several transactions:\n(a) operations where one party sells financial instruments for cash (‘first transaction’), with a commitment of the other party to sell equivalent financial instruments to the first party for a price that is determined or determinable (‘second transaction’);\n(b) operations where one party transfers financial instruments to another party (‘first transaction’), with a commitment of that other party to return equivalent financial instruments to the first party (‘second transaction’).\n2. Where paragraph 1 applies, the buy-in process shall be considered ineffective where the intended settlement date of the second transaction is set within 30 business days after the intended settlement date of the first transaction.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2018/1229/article/22",
    "retrieved_at": "2026-11-01T14:43:58.393159+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}