(1) Any question with respect to any of the matters specified in paragraph (2) arising in relation to book entry securities collateral is to be governed by the domestic law of the country in which the relevant account is maintained, irrespective of any law of that country that provides for the law of another country to be referred to in deciding the question.

(2) The matters referred to in paragraph (1) are the following:

(a) the legal nature and proprietary effects of the book entry securities collateral concerned;

(b) the requirements for perfecting a financial collateral arrangement relating to that collateral and the provision of that collateral under such an arrangement and, more generally, the completion of steps necessary to render such an arrangement and provision effective against third parties;

(c) whether a person's title to, or interest in, that collateral is overridden by, or subordinated to, a competing title or interest;

(d) whether a person has in good faith acquired title to, or an interest in, that collateral;

(e) the steps required for the realisation of that collateral following the occurrence of an enforcement event.