Regulation 44 Regulated markets

Without prejudice to regulation 40, the effects of a relevant reorganisation measure or winding up on the rights and obligations of the parties to a regulated market operating in an EEA State must be determined in accordance with the law applicable to that market.

Paragraph (1) does not preclude actions for voidness, voidability or unenforceability of legal acts detrimental to creditors under the general law of insolvency of the United Kingdom, as referred to in regulation 37(3)(m).

For the purposes of this regulation, “regulated market” has the meaning given by the Council Directive of 10 May 1993 on investment services in the securities field (No. 93/22/EEC)^f1.