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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
Version 2 of 2

Regulation 7 Safeguards for the operation of certain financial markets

(1) In this regulation -

"competent officer" and "qualifying agent" have the meaning given in regulation 5(6) of the 2004 Regulations;

"equivalent provision" means provision in the law of an EEA State which has an effect which is equivalent to the provision in regulation 5(1) and (2) of the 2004 Regulations;

"relevant enactments" means Part 7 of the Companies Act 1989 [1989 c. 40.], Part 3 of the Financial Markets and Insolvency (Settlement and Finality) Regulations 1999 [S.I. 1999/2979.] and Part 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 [S.I. 2003/3226.] ("the 2003 Regulations");

"reorganisation measure" means any measure taken under the law of insolvency of the United Kingdom which is equivalent to a directive reorganisation measure;

"winding up proceedings" means any proceedings commenced under the law of insolvency of the United Kingdom which are equivalent to directive winding-up proceedings;

"UK credit institution" has the meaning given in regulation 2(1) of the 2004 Regulations;

"UK group company" has the meaning given in regulation 44(b) of the 2004 Regulations; and

"UK investment firm" has the meaning given in regulation 39(b) of the 2004 Regulations.