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The Contracts for Difference (Standard Terms) Regulations 2014
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- UK Statutory Instruments
- 2014 No. 2012
- PART 4
- Regulation 10
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Offer to contractE+W+S
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10.—(1) An offer of a CFD is made by the CFD counterparty signing [F1the relevant number of] copies of a CFD completed in accordance with regulation 9(3) and sending [F1all] copies to the eligible generator.
[F2(1A) In paragraph (1), “the relevant number of copies” means—
(a)two copies; or
(b)where the eligible generator is an unincorporated association, the number of copies required for there to be one for each member of the unincorporated association and one for the CFD counterparty.]
(2) The CFD counterparty must make an offer of a CFD [F3in relation to a CFD unit within 10 working days of the later of—
(a)the date the CFD counterparty receives a CFD notification in relation to that CFD unit; and
(b)the date that the Secretary of State gives notice to the CFD counterparty of amendments made to the sustainable industry reward statement in relation to that CFD unit under regulation 42A(4) of the Contracts for Difference (Allocation) Regulations 2014.]
(3) The eligible generator, to whom the offer of a CFD is made, enters into a CFD where—
(a)the eligible generator signs [F4all] copies of a CFD and returns one copy to the CFD counterparty; and
(b)the CFD counterparty gives the eligible generator a notice stating that the CFD counterparty has received a copy of the CFD from the eligible generator which has been signed by [F5all] contracting parties.
(4) The CFD counterparty must give the notice under paragraph (3)(b) as soon as reasonably practicable after the CFD counterparty receives a signed copy of a CFD from an eligible generator.
(5) Where a CFD is entered into, the CFD counterparty must inform the delivery body as soon as reasonably practicable.
[F6(6) In this regulation, “CFD unit” has the meaning given by regulation 2(1) of the Contracts for Difference (Allocation) Regulations 2014.]
Textual Amendments
F1Words in reg. 10(1) substituted (20.7.2016) by The Contracts for Difference (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/784), regs. 1(1), 22(a)
F2Reg. 10(1A) inserted (20.7.2016) by The Contracts for Difference (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/784), regs. 1(1), 22(b)
F3Words in reg. 10(2) substituted (15.4.2026) by The Contracts for Difference (Sustainable Industry Rewards and Contract Budget Notice Amendments) Regulations 2026 (S.I. 2026/411), regs. 1(1), 27(1)
F4Word in reg. 10(3)(a) substituted (20.7.2016) by The Contracts for Difference (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/784), regs. 1(1), 22(c)
F5Word in reg. 10(3)(b) substituted (20.7.2016) by The Contracts for Difference (Miscellaneous Amendments) Regulations 2016 (S.I. 2016/784), regs. 1(1), 22(c)
F6Reg. 10(6) inserted (15.4.2026) by The Contracts for Difference (Sustainable Industry Rewards and Contract Budget Notice Amendments) Regulations 2026 (S.I. 2026/411), regs. 1(1), 27(2)
Commencement Information
I1Reg. 10 in force at 1.8.2014, see reg. 1
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