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The Contracts for Difference (Allocation) Regulations 2014

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Delay after completion of allocation processes

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40.—(1) Where the delay period has expired—

(a)a proceed notice or a proceed direction must not be given; and

(b)the delivery body must not re-run part only of the allocation process.

(2) Where paragraph (1) applies the delivery body must—

(a)re-run the allocation process;

(b)comply with regulation 34(2) to (6); and

(c)after completion of the re-run, comply with regulation 35 and Chapter 4 of this Part.

(3) In this regulation, “delay period” means—

(a)where a variation notice was not required to be given when the allocation process commenced, a period of more than 5 months has expired since the application closing date; or

(b)where a variation notice was required to be given when the allocation process commenced, a period of more than 5 months has expired since the date on which the variation notice was required to be given.

(4) The allocation framework for the allocation round may provide for a period other than “5 months” stated in paragraph (3)(a) or (b) and where such other period is provided, “delay period” has effect with that modification.

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