Regulation 10G Restrictions on partial property transfers—financial marketsF1
A partial property transfer may not transfer property, rights or liabilities to the extent that doing so would have the effect of modifying, modifying the operation of, or rendering unenforceable—
a market contract;
the default rules of a recognised investment exchange F2, recognised clearing house or recognised CSD; or
the rules of a recognised investment exchange , recognised clearing house or recognised CSD as to the settlement of market contracts not dealt with under its default rules.
A partial property transfer is void in so far as it is made in contravention of this regulation.
In this regulation—
“default rules” has the meaning given in section 188 of the Companies Act 1989; and
“partial property transfer” has the same meaning as in regulation 10B(13).
Annotations
Textual amendments
- F1
Regs. 10B-10G inserted (6.4.2017) by The Investment Bank (Amendment of Definition) and Special Administration (Amendment) Regulations 2017 (S.I. 2017/443), regs. 1, 8 (with reg. 17)
- F2
Words in reg. 10G(1)(b)(c) substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 36(3) (with regs. 7(4), 9(1))