Paragraph 10 Contracts secured by certain charges or arrangementsF1

This paragraph applies to a contract where any obligation under the contract is—

(a)

secured by a market charge within the meaning of Part 7 of the Companies Act 1989 (see section 173 of that Act),

(b)

secured by a system-charge within the meaning of the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469) (see regulation 2 of those Regulations), or

(c)

secured or otherwise covered by a financial collateral arrangement within the meaning of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226) (see regulation 3 of those Regulations).

Annotations

Textual amendments

F1: Sch. ZA2 inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 2 (with ss. 2(2), 5(2))