(1) The Financial Markets and Insolvency (Settlement Finality) Regulations 1999 [S.I. 1999/2979; regulation 2(1) was amended by Schedule 1 to the Bankruptcy (Scotland) Act 1993 (c. 6), S.I. 2002/1555, S.I. 2006/50, S.I. 2006/3221, S.I. 2007/108, S.I. 2007/126, S.I. 2010/2993 and by S.I. 2011/99.] are amended as follows.

(2) In regulation 2 [Regulation 2(2) was amended by S.I. 2006/50; regulation 6 was amended by S.I. 2002/1555 and by S.I. 2009/1972; regulation 7(2) was amended by S.I. 2002/1555 regulation 10 was amended by S.I. 2002/1555 and S.I. 2010/2993; regulation 13(4) was inserted by S.I. 2010/2993; regulation 20(1) was amended by S.I. 2010/2993.] -

(a) in paragraph (1) -

(i) at the appropriate place insert -

""administration" and "administrator" shall be interpreted in accordance with the modifications made by the enactments mentioned in paragraph (5);";

(ii) in the definition of "default arrangements" -

(aa) in sub-paragraph (b) omit "or";

(bb) in sub-paragraph (c) after "the application or transfer of collateral security;" insert "or"; and

(cc) after sub-paragraph (c) insert -