Consequential provision
This section has no associated Explanatory Memorandum
5.—(1) Equity securities which are the subject of an agreement specified in regulation 4(2)(a) shall be dealt with by a clearing participant who is a party to the agreement in a separate designated account, and not otherwise.
(2) In paragraph (1) above “designated account” means an account designated by x-clear for a clearing participant in connection with the equity securities concerned.