187 Construction of references to parties to market contracts.U.K.
(1)Where a person enters into market contracts in more than one capacity, the provisions of this Part apply (subject as follows) as if the contracts entered into in each different capacity were entered into by different persons.
(2)References in this Part to a market contract to which a person is a party include (subject as follows, and unless the context otherwise requires) contracts to which he is party as agent.
(3)The Secretary of State may by regulations—
(a)modify or exclude the operation of subsections (1) and (2), and
(b)make provision as to the circumstances in which a person is to be regarded for the purposes of those provisions as acting in different capacities.
Modifications etc. (not altering text)
C1S. 187(1) amended by S.I. 1991/880, reg. 16(2)
Commencement Information
I1S.187 wholly in force; s. 187(3) in force for certain purposes at 25.3.1991, s. 187 wholly in force at 25.4.1991 see s. 215(2) and S.I. 1991/488, art. 2(2); S.I. 1991/878, art. 2, Sch.