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The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2019
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- UK Statutory Instruments
- 2019 No. 1058
- PART 2
- Regulation 5
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The Financial Collateral Arrangements (No. 2) Regulations 2003
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5. In regulation 12(2)(aa) of the Financial Collateral Arrangements (No. 2) Regulations 2003(1) (close-out netting provisions to take effect in accordance with their terms)—
(a)after “that party had notice that” insert “a statement as to the affairs of the other party had been sent to the other party’s creditors under section 99(1) of that Act(2);”; and
(b)omit the words from “a meeting” to the end.
(1)
S.I. 2003/3226, as amended by S.I. 2010/2993, S.I. 2018/208 and S.I. 2019/341. The amendments made by S.I. 2019/341 will come into force on exit day. There are other amendments, but they are not relevant.
(2)
Section 99(1) was substituted by the Small Business, Enterprise and Employment Act 2015, section 126 and Schedule 9, paragraphs 1 and 23.
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