- Latest available (Revised)
- Original (As made)
The Financial Markets and Insolvency Regulations 1996
You are here:
- UK Statutory Instruments
- 1996 No. 1469
- PART II
- Regulation 4
What Version
Opening Options
More Resources
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Circumstances in which Part VII applies in relation to system-charge
4.—(1) Part VII of the Act shall apply in relation to a system-charge granted by a system-member and in relation to property subject to such a charge only if—
(a)it is granted to a settlement bank by a system-member for the purpose of securing debts or liabilities arising in connection with any of the transactions specified in regulation 3(2), being debts or liabilities incurred by that system-member or by a system-beneficiary on whose behalf he holds uncertificated units of a security; and
(b)it contains provisions which refer expressly to the relevant system in relation to which the grantor is a system-member.
(2) Part VII of the Act shall apply in relation to a system-charge granted by a system-beneficiary and in relation to property subject to such a charge only if—
(a)it is granted to a settlement bank by a system-beneficiary for the purpose of securing debts or liabilities arising in connection with any of the transactions specified in regulation 3(2), incurred by that system-beneficiary or by a system-member who holds uncertificated units of a security on his behalf; and
(b)it contains provisions which refer expressly to the relevant system in relation to which the system-member who holds the uncertificated units of a security in relation to which the system-beneficiary has the interest is a system-member.
Options/Help
Print Options
PrintThe Whole Instrument
PrintThe Whole Part
PrintThis Section only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.