Central Bank and Credit Institutions (Resolution) Act 2011

104.

Application of laws in relation to netting agreements, etc.

104.— (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 an authorised credit institution or any of its subsidiaries or its holding company is a party, or

( b) affects the operation of any provision of the law of a Member State required for the implementation of the provisions of—

(i) Directive 98/26/EC 4 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.

4 OJ No. L 166 11.6.2002, p.45