The Financial Services and Markets Act 2023 (Resolution of Central Counterparties: Partial Property Transfers and Safeguarding of Protected Arrangements) Regulations 2023
PART 1General
1Citation, commencement, extent and interpretation
PART 2Partial Property Transfers
CHAPTER 1Restrictions on Partial Property Transfers
2Application of this Part
3Protected rights and liabilities
4Secured liabilities
5Financial markets
6Trusts
7Additional restrictions on reverse transfers
8CCP group companies
CHAPTER 2Remedies
9Market contracts and continuity powers
10Set-off and netting
11Contravention of other provisions of this Part
PART 3Restriction of Write-down Provision
12Application
13Set-off and netting
14Set-off and netting: meaning of “derivative”, “financial contract” and “qualifying master agreement”
15Remedy
16Remedy: relevant period
PART 4Revocation and transitional provision
17Revocation of the Banking Act 2009 (Restriction of Partial Property Transfers) (Recognised Central Counterparties) Order 2014.
18Transitional provision

2023 No. 1316

Financial Services

The Financial Services and Markets Act 2023 (Resolution of Central Counterparties: Partial Property Transfers and Safeguarding of Protected Arrangements) Regulations 2023

Made

Coming into force

The Treasury make these Regulations in exercise of the powers conferred by sections 47, 48 and 259(1) of the Banking Act 20091 and section 84(2) of, and paragraphs 75(2) and (3), 76(2) to (4) and 78(3) to (5) of Schedule 11 to, the Financial Services and Markets Act 20232.

A draft of these Regulations has been laid before and approved by a resolution of each House of Parliament in accordance with sections 47(5) and 48(6) of the Banking Act 2009 and section 84(3) of, and paragraphs 75(5), 76(6) and 78(7) of Schedule 11 to, the Financial Services and Markets Act 2023.