Paragraph 20 I1

England, Wales and Scotland

Regulation 21 has effect as if—

(a)

in paragraphs (1), (2), (3), (4) and (5), the first reference to “the revenue collection counterparty” were to “a revenue collection counterparty” and all other references to “the revenue collection counterparty” were to “that revenue collection counterparty”; and

(b)

the words “to that revenue collection counterparty” appeared—

(i)

after the words “relevant payment” in paragraph (2);

(ii)

before the words “is the lesser of” in paragraph (3);

(iii)

after the words “collateral provided” in paragraph (3)(a); and

(iv)

after the words “failed to make” in paragraph (3)(b).

Annotations

Commencement

I1: Sch. para. 20 in force at 23.3.2023, see reg. 1(2)