HC Deb 26 October 1989 vol 158 c1228

Amendments made: No. 193, in page 168, line 1, leave out 'market contract' and insert 'transaction to which this section applies'.

No. 194, in page 168, leave out lines 7 to 10.

No. 195, in page 168, line 11, leave out 'a market contract' and insert 'any such transaction'.

No. 196, in page 168, leave out lines 18 to 20.

No. 197, in page 168, line 21, leave out subsection (3) and insert— '(3) This section applies to—

  1. (a) a market contract to which a recognised investment exchange or recognised clearing house is a party or which is entered into under its default rules, and
  2. (b) a disposition of property in pursuance of such a market contract.

(4) Where margin is provided in relation to a market contract and (by virtue of subsection (3)(a) or otherwise) no such order or decree as is mentioned in subsection (1) or (2) has been, or could be, made in relation to that contract, this section applies to—

  1. (a) the provision of the margin,
  2. (b) any contract effected by the exchange or clearing house in question for the purpose of realising the property provided as margin, and
  3. (c) any disposition of property in accordance with the rules of the exchange or clearing house as to the application of property provided as margin.'.

No. 198, in page 168, line 31, leave out Clause 156.—[Mr. Redwood]

Forward to