167. Collateral Security Arrangements
Past version: effective from 20/10/2015 - 19/10/2015
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(1) In this Part "Collateral Security Arrangements" means any realisable assets provided under a Charge, whether fixed or floating, or a repurchase or similar agreement or otherwise (including money provided under a Charge), granted —
(a) in favour of a Recognised Investment Exchange, for the purpose of securing debts or liabilities arising in connection with the Settlement of Market Contracts;
(b) in favour of a Recognised Clearing House, for the purpose of securing debts or liabilities arising in connection with their ensuring the performance of Market Contracts;
(c) to a central bank for the purpose of security rights and obligations in connection with its operations in carrying out its function as a central bank; or
(d) in favour of a person who agrees to make payments as a result of the transfer or allotment of specified Financial Instruments or payments made through the medium of a computer based system established by the Regulator, for the purpose of securing debts or liabilities of the transferee or allottee arising in connection therewith.
(2) Where a Charge is granted partly for purposes specified in subsections (1)(a), (b) or (d) and partly for other purposes, it is a "Collateral Security Arrangement" so far as it has effect for the specified purposes.