{
  "url": "https://openlegislation.uk/financial-collateral-arrangements-no2-regulations-2003/regulation-13",
  "json_url": "https://openlegislation.uk/financial-collateral-arrangements-no2-regulations-2003/regulation-13.json",
  "legislation": "uksi/2003/3226",
  "legislation_title": "The Financial Collateral Arrangements (No.2) Regulations 2003",
  "legislation_url": "https://openlegislation.uk/financial-collateral-arrangements-no2-regulations-2003",
  "path": "regulation/13",
  "kind": "regulation",
  "number": "13",
  "heading": "Financial collateral arrangements to be enforceable where collateral-taker not aware of commencement of winding-up proceedings or reorganisation measures",
  "text": "(1) Where any of the events specified in paragraph (2) occur on the day of, but after the moment of commencement of, winding-up proceedings or reorganisation measures those events, arrangements and obligations shall be legally enforceable and binding on third parties if the collateral-taker can show that he was not aware, nor should have been aware, of the commencement of such proceedings or measures.\n(2) The events referred to in paragraph (1) are—\n(a) a financial collateral arrangement coming into existence;\n(b) a relevant financial obligation secured by a financial collateral arrangement coming into existence; or\n(c) the delivery, transfer, holding, registering or other designation of financial collateral so as to be in the possession or under the control of the collateral-taker.\n(3) For the purposes of paragraph (1)—\n(a) the commencement of winding-up proceedings means the making of a winding-up order or, in the case of a Scottish partnership, the award of sequestration by the court; and\n(b) commencement of reorganisation measures means the appointment of an administrator, whether by a court or otherwise or, in the case of a Scottish partnership, the date of registration of a protected trust deed.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 13(3)(a) inserted (6.4.2011) by The Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010 (S.I. 2010/2993), regs. 1, 4(11)(a) (with reg. 3)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 13(3)(b) inserted (6.4.2011) by The Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010 (S.I. 2010/2993), regs. 1, 4(11)(b) (with reg. 3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2003/3226/regulation/13",
    "retrieved_at": "2026-10-29T05:37:07.055603+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."
}