Payment and Settlement Systems (Finality and Netting) Act · s 12

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s 12Transfer orders entered into designated system after insolvency

This Part does not apply in relation to any transfer order given by a participant which is entered into a designated system after the expiry of the day on which —

(a)

a court made an order for bankruptcy, judicial management or winding up in respect of the participant; or

(b)

a resolution for the voluntary winding up of the participant was passed.

Payment and Settlement Systems

(Finality and Netting)