§
7 Schedule 1, page 10, line 37, at end insert—
(""money market contract" and "money market charge" have the meanings given by the Financial Markets and Insolvency (Money Market) Regulations 1995 ("the 1995 regulations"),")
§ Lord McIntosh of HaringeyMy Lords, I beg to move that the House do agree with the Commons in their Amendment No. 7. I should like to speak also to Amendments Nos. 8 to 11 and 14 to 16. These amendments will ensure that the company voluntary arrangement moratorium does not prejudice the existing modifications of insolvency law relating to "money market contracts", "money market charges" and "related contracts" as defined in the Financial Markets and Insolvency (Money Market) Regulations 1995, and "system-charges" as defined in the Financial Markets and Insolvency Regulations 1996. The amendments are necessary to protect the status quo and to enable financial markets to continue to function in the event of the insolvency of one of the market participants.
Moved, That the House do agree with the Commons in their Amendment No. 7.—(Lord McIntosh of Haringey.)
On Question, Motion agreed to.