# The Financial Markets and Insolvency (Ecu Contracts) Regulations 1998, Regulation 2


In the Financial Markets and Insolvency (Money Market) Regulations 1995 regulation 2 shall be amended as follows:
(a) below the definition of “default rules” the following shall be inserted:
““ecu” means the unit of account of that name defined in Council Regulation (EEC) No. 3320/94;”
(b) the defintion of “money market contract” shall be replaced by the following—
““money market contract” means a contract in relation to which a listed person provides settlement arrangements and which is a contract for the acquisition or disposal either of—
(i) currency of the United Kingdom or of any other country or territory; or
(ii) rights under a contract the value of which is determined by reference to the value of the ecu;”

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Source: https://www.legislation.gov.uk/uksi/1998/27/regulation/2 (the official version)
Page: https://openlegislation.uk/financial-markets-and-insolvency-ecu-contracts-regulations-1998/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.