Regulation 12 Circumstances in which CGO Service charge to be treated as market chargeI1
England, Wales and Scotland
A CGO Service charge shall be treated as a market charge only if—
(a)
it is granted to a settlement bank by a person for the purpose of securing debts or liabilities of the kind mentioned in section 173(1)(c) of the Act incurred by that person through his use of the CGO Service as a CGO Service member; and
(b)
it contains provisions which refer expressly to the F1CGO Service.
Annotations
Textual amendments
- F1
Words in reg. 12 substituted (24.5.1999) by The Financial Markets and Insolvency (CGO Service) Regulations 1999 (S.I. 1999/1209), regs. 1(1), 3(2) (with reg. 1(2)(3))
Commencement
- I1
Reg. 12 in force at 25.4.1991, see reg. 1