# The Financial Markets and Insolvency (Settlement Finality) Regulations 1999, Regulation 26: Systems designated in Gibraltar

Extent: E+W+S+N.I.

(1) Where an equivalent overseas order or equivalent overseas security is subject to the insolvency law of England and Wales or Scotland or Northern Ireland, this Part shall apply—
(a) in relation to the equivalent overseas order as it applies in relation to a transfer order; and
(b) in relation to the equivalent overseas security as it applies in relation to collateral security ....
(2) In paragraph (1)—
(a) “equivalent overseas order” means an order having the like effect as a transfer order which is effected through a system designated in Gibraltar and which is governed by the law of Gibraltar; and
(b) “equivalent overseas security” means any realisable assets provided under a charge or a repurchase or similar agreement, or otherwise (including credit claims and money provided under a charge)—
(i) for the purpose of securing rights and obligations potentially arising in connection with such a system, ...
(ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/uksi/1999/2979/regulation/26 (the official version)
Page: https://openlegislation.uk/financial-markets-and-insolvency-settlement-finality-regulations-1999/regulation-26
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.