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Section 182A: Recognised central counterparties: disapplication of provisions on mutual credit and set-off

Companies Act 1989 · 1989 c. 40View on legislation.gov.uk

Part VII: Financial Markets and Insolvency

Nothing in the law of insolvency shall enable the setting off against each other of—

positions and assets recorded in an account at a recognised central counterparty and held for the account of a client, an indirect client or a group of clients or indirect clients in accordance with Article 39 of the EMIR Level 1 Regulation , Article 3(1) of the EMIR Level 2 Regulation or Article 3(1) of the MIFIR Level 2 Regulation; and
positions and assets recorded in any other account at the recognised central counterparty.

Nothing in the law of insolvency shall enable the setting off against each other of—

positions and assets recorded in an account at a clearing member and held for the account of an indirect client or a group of indirect clients in accordance with Article 4(2) of the EMIR Level 2 Regulation or Article 4(2) of the MIFIR Level 2 Regulation; and
positions and assets recorded in any other account at the clearing member.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.