PART 15Final Provisions
Right of appealI147
1
The appointed auction platform must have effective arrangements to deal with complaints from applicants for admission to bid, bidders admitted to bid, or whose admission to bid has been refused, revoked or suspended.
2
Those arrangements must include procedures for the fair, independent and impartial resolution of appeals against decisions of the auction platform.
3
A decision in relation to an appeal under paragraph (2) must be given in writing, with full reasons.
Correction of errorsI248
1
Any errors in any payment or allowance transfers made and collateral or deposit given or released under these Regulations must be notified to the clearing system or settlement system as soon as it comes to the notice of any person.
2
The clearing system or settlement system must take whatever measures are necessary to rectify any errors in any payment or allowance transfers made and collateral or deposit given or released under these Regulations which come to their attention by whatever means.
3
If any person—
a
has benefitted from an error referred to in paragraph (1) which cannot be rectified under paragraph (2), due to the intervening rights of a third party purchaser in good faith, and
b
knew of or ought to have known of the error and failed to notify it to the clearing system or settlement system,
that person is liable to make good any damage caused by the error.