155 Market contracts
Companies Act 1989 (1989 c 40) | Legislation

[Recognised bodies]

155  Market contracts

[(1)     In this Part—

(a)     “clearing member client contract” means a contract between a recognised central counterparty and one or more of the parties mentioned in subsection (1A) which is recorded in the accounts of the recognised central counterparty as a position held for the account of a client, an indirect client or a group of clients or indirect clients;

(b)     “clearing member house contract” means a contract between a recognised central counterparty and a clearing member recorded in the accounts of the recognised central counterparty as a position held for the account of a clearing member;

(c)     “client trade” means a contract between two or more of the parties mentioned in subsection (1A) which corresponds to a clearing member client contract;

(d)     “market contracts” means the contracts to which this Part applies by virtue of subsections (2) to [(3ZA)].]

[(1A)     The parties referred to in subsections (1)(a) and (c) are—

(a)     a clearing member;

(b)     a client; and

(c)     an indirect client.]

[(2)     Except as provided in subsection (2A), in relation to a recognised investment exchange this Part applies to—

(a)     contracts entered into by a member or designated non-member of

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Qualified one-way costs shifting (QOCS)

Qualified one-way costs shifting (QOCS)What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE)

LEXISNEXIS

Public inquiry procedure

Public inquiry procedureThe procedure by which a public inquiry is conducted will vary significantly from one inquiry to the next. Even for inquiries established under the Inquiries Act 2005 (IA 2005), the associated inquiry rules are not particularly prescriptive as to how they ought to be

LEXISNEXIS

Introduction to passing off

Unlike many other countries, the UK has no unfair competition law. Brand owners seeking to prevent competitors from marketing ‘copycat’ products or using misleading advertising have to rely on a combination of different intellectual property rights. These rights include the common law right to

LEXISNEXIS

Removal of a director

Removal of a directorThis note should be read in conjunction with Practice Note: Appointment, retirement and resignation of a director.For an illustration of the steps that must be taken to remove a director, see Removal of a director—flowchart.Removal from officeResolution to remove a directorA