Consequential provision
This section has no associated Explanatory Memorandum
5.—(1) Traded securities which are the subject of an agreement specified in regulation 4(3) shall be dealt with by a clearing participant who is party to the agreement in a separate designated account, and not otherwise.
(2) In paragraph (1) “designated account” means an account designated by LCH.Clearnet Limited, X-CLEAR or EMCF for a clearing participant in connection with the traded securities concerned.