# The Financial Collateral Arrangements (No.2) Regulations 2003, Regulation 18A: Restrictions on enforcement of financial collateral arrangements, etc.


(1) Nothing in regulations 16 and 17 prevents the Bank of England imposing a restriction—
(a) on the enforcement of financial collateral arrangements, or
(b) on the effect of a security financial collateral arrangement, close out netting provision or set-off arrangement,
in the exercise of its powers under Part 1 of the Banking Act 2009 or under Schedule 11 to the Financial Services and Markets Act 2023.
(2) For the purpose of paragraph (1) “set-off arrangement” means an arrangement under which two or more debts, claims or obligations can be set off against each other.

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Source: https://www.legislation.gov.uk/uksi/2003/3226/regulation/18A (the official version)
Page: https://openlegislation.uk/financial-collateral-arrangements-no2-regulations-2003/regulation-18A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.