8Duties of a CFD counterpartyU.K.
This
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Nodiadau Esboniadol
(1)A CFD counterparty must act in accordance with—
(a)any direction given by the Secretary of State by virtue of this Chapter;
(b)any provision included in regulations.
(2)A CFD counterparty must exercise the functions conferred by or by virtue of this Chapter to ensure that it can meet its liabilities under any CFD to which it is a party.
(3)In this Chapter “national system operator” means the person [F1designated as the Independent System Operator and Planner under section 162 of the Energy Act 2023.]
Textual Amendments
F1Words in s. 8(3) substituted (1.10.2024) by The Energy Act 2023 (Consequential Amendments) Regulations 2024 (S.I. 2024/706), regs. 1(1), 9(2); S.I. 2024/957, reg. 2(a)