(1) A partial property transfer may not transfer property, rights or liabilities to the extent that doing so would have the effect of modifying, modifying the operation of, or rendering unenforceable -

(a) a market contract;

(b) the default rules of a recognised investment exchange, recognised clearing house or recognised CSD; or

(c) the rules of a recognised investment exchange, recognised clearing house or recognised CSD as to the settlement of market contracts not dealt with under its default rules.

(2) A partial property transfer is void in so far as it is made in contravention of this regulation.

(3) In this regulation -

"default rules" has the meaning given in section 188 of the Companies Act 1989 [1989 c. 40. Section 188 was amended by S.I. 2009/853, 2013/504 and 2013/1908. (c) Regulation 10G is inserted by regulation 8 of these Regulations.]; and

"partial property transfer" has the same meaning as in regulation 10B(13).