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The Financial Markets and Insolvency Regulations 1991
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- UK Statutory Instruments
- 1991 No. 880
- PART VII
- Regulation 17
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Restriction of paragraph 2 of Schedule 21 to Act
17. In Schedule 21 to the Act (additional requirements for recognition)the following new sub-paragraph shall be added at the end of paragraph2—
“(4) The reference in sub-paragraph (1) to rights and liabilities betweenthose party as principal to unsettled market contracts does not includerights and liabilities—
(a)in respect of margin; or
(b)arising out of a failure to perform a market contract.”.
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