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Regulation 5 Consequential provision

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Equity securities which are the subject of an agreement specified in regulation 4(2)(a) shall be dealt with by a clearing participant who is a party to the agreement in a separate designated account, and not otherwise.

(2)

In paragraph (1) above “designated account” means an account designated by The London Clearing House Limited for a clearing participant in connection with the equity securities concerned.