- Draft legislation
This is a draft item of legislation and has not yet been made as a UK Statutory Instrument. This draft has been replaced by a new draft, The Contracts for Difference (Allocation) Regulations 2014 ISBN 978-0-11-111731-6
57.—(1) A direction given by the Secretary of State under section 10(1) of the Act must—
(a)be in writing and be dated;
(b)specify a date by which the CFD counterparty to whom it is given must comply with the direction; and
(c)specify the period for which the CFD counterparty must keep the offer of a contract on the specified terms open for acceptance, subject to regulation 59.
(2) The date specified in accordance with paragraph (1)(b) must be no earlier than 20 working days from and including the date on which the direction is given.
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