Credit Institutions (Stabilisation) Act 2010

65.

Application of laws in relation to netting agreements, etc.

F61 [ 65. (1) Nothing in this Act

( a ) affects the operation of

(i) the Netting of Financial Contracts Act 1995 ,

(ii) the European Communities (Settlement Finality) Regulations 2010 ( S.I. No. 624 of 2010 ),

(iii) the European Communities (Financial Collateral Arrangements) Regulations 2010 ( S.I. No. 626 of 2010 ), or

(iv) Regulation 30 of the Regulations of 2011,

in relation to an agreement to which a relevant institution or any of its subsidiaries is a party, or

( b ) affects the terms and operation of any collateral arrangements governed by any provision of the law of a Member State required for the implementation of the provisions of

(i) Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 (as amended by Directive 2009/44/EC of the European Parliament and of the Council of 6 May 2009), or

(ii) Directive 2002/47/EC of the European Parliament and of the Council of 6 June 2002 (as amended by Directive 2009/44/EC of the European Parliament and of the Council of 6 May 2009). ]

(2) Nothing in this Act affects the operation of the Asset Covered Securities Act 2001.

Annotations:

Amendments:

F61

Substituted (28.10.2011) by Central Bank and Credit Institutions (Resolution) Act 2011 (27/2011), s. 110(5) and sch. 2 part 5 item 59, S.I. No. 548 of 2011.