169. Power to make provision about certain other Charges

Past version: effective from 20/10/2015 - 19/10/2015
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(1) The Regulator may by Rules provide that the Insolvency Regulations 2015 have effect in relation to Charges of such descriptions as may be Specified, and action taken in enforcing them, subject to such provisions as may be Specified.
(2) The Rules may specify any description of Charge granted in favour of —
(a) a body approved under section 165;
(b) the Regulator;
(c) a person who has a Financial Services Permission to carry on a Regulated Activity of a description specified in the Rules; or
(d) an international securities self-regulating organisation approved for the purposes of an order made under these Regulations;
for the purpose of securing debts or liabilities arising in connection with or as a result of the settlement of contracts or the transfer of assets, rights or interests on a financial market.
(3) The Rules may specify any description of Charge granted for that purpose in favour of any other person in connection with exchange facilities or Clearing Services provided by a Recognised Body or by any such body, person, authority or organisation as is mentioned in subsection (2).
(4) Where a Charge is granted partly for the purpose specified in subsection (2) and partly for other purposes, the power conferred by this section is exercisable in relation to the Charge so far as it has effect for that purpose.
(5) The Rules may —
(a) make the same or similar provision in relation to the Charges to which they apply as is made by or under sections 179(1)(h) and 168 in relation to Collateral Security Arrangements; or
(b) apply any of those provisions with such exceptions, additions or adaptations as are specified in the Rules.
(6) Rules under this section may provide that they apply or do not apply to a Charge if or to the extent that it secures obligations of a Specified description, is a Charge over property of a Specified description or contains provisions of a Specified description.