C1PART VFINANCIAL MARKETS AND INSOLVENCY

Annotations:
Modifications etc. (not altering text)

Supplementary provisions

Minor definitions111

1

In this Part—

  • “administrative receiver” has the meaning given by Article 5(1) of the Insolvency Order;

  • F1“the Authority” means the Financial Services Authority;

  • “charge” means any form of security, including a mortgage;

  • Definitions rep. by SI 2001/3649

  • “overseas”, in relation to an investment exchange or clearing house, means having its head office outside the United Kingdom;

  • F1“recognised clearing house” and “recoginised investment exchange” have the same meaning as in the Financial Services and Markets Act 2000;

  • Definition rep. by SI 2001/3649

  • F1“The Stock Exchange” means the London Stock Exchange Limited;

  • “UK”, in relation to an investment exchange or clearing house, means having its head office in the United Kingdom.

2

References in this Part to settlement in relation to a market contract are to the discharge of the rights and liabilities of the parties to the contract, whether by performance, compromise or otherwise.

3

In this Part the expressions “margin” and “cover for margin” have the same meaning.

Para. (4) rep. by SI 2001/3649

5

For the purposes of this Part a person shall be taken to have notice of a matter if he deliberately failed to make enquiries as to that matter in circumstances in which a reasonable and honest person would have done so.

This does not apply for the purposes of a provision requiring “actual notice”.

6

References in this Part to the law of insolvency include references to every provision made by or under the Insolvency Order, and in relation to a building society references to insolvency law or to any provision of the Insolvency Order are to that law or provision as modified by the Building Societies Act 1986F2.