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The Financial Markets and Insolvency (Ecu Contracts) Regulations 1998
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- UK Statutory Instruments
- 1998 No. 27
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1. These Regulations may be cited as the Financial Markets and Insolvency (Ecu Contracts) Regulations 1998 and shall come into force on 2nd February 1998.
2. In the Financial Markets and Insolvency (Money Market) Regulations 1995(1) regulation 2 shall be amended as follows:
(a)below the definition of “default rules” the following shall be inserted:
““ecu” means the unit of account of that name defined in Council Regulation (EEC) No. 3320/94(2);”
(b)the defintion of “money market contract” shall be replaced by the following—
““money market contract” means a contract in relation to which a listed person provides settlement arrangements and which is a contract for the acquisition or disposal either of—
(i)currency of the United Kingdom or of any other country or territory; or
(ii)rights under a contract the value of which is determined by reference to the value of the ecu;”
Graham Allen
Bob Ainsworth
Two of the Lord’s Commissioners of her Majesty’s Treasury
12th January 1998
Nigel Griffiths
Parliamentary Under Secretary of State
Department of Trade and Industry
28th December 1997
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