The Contracts for Difference (Standard Terms) Regulations 2014
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Change 1
10 Offer to contract
(1) An offer of a CFD is made by the CFD counterparty signing the relevant number of copies of a CFD completed in accordance with regulation 9(3) and sending all copies to the eligible generator. (1A) In paragraph (1), “the relevant number of copies” means— (a) two copies; or (b) where the eligible generator is an unincorporated association, the number of copies required for there to be one for each member of the unincorporated association and one for the CFD counterparty. (2) The CFD counterparty must make an offer of a CFD in relation to a CFD unit within 10 working days of the later of— (a) the date the CFD counterparty receives a CFD notification in relation to that CFD unit; and (b) the date that the Secretary of State gives notice to the CFD counterparty of amendments made to the sustainable industry reward statement in relation to that CFD unit under regulation 42A(4) of the Contracts for Difference (Allocation) Regulations 2014. (3) The eligible generator, to whom the offer of a CFD is made, enters into a CFD where— (a) the eligible generator signs all copies of a CFD and returns one copy to the CFD counterparty; and (b) the CFD counterparty gives the eligible generator a notice stating that the CFD counterparty has received a copy of the CFD from the eligible generator which has been signed by all contracting parties. (4) The CFD counterparty must give the notice under paragraph (3)(b) as soon as reasonably practicable after the CFD counterparty receives a signed copy of a CFD from an eligible generator. (5) Where a CFD is entered into, the CFD counterparty must inform the delivery body as soon as reasonably practicable. (6) In this regulation, “CFD unit” has the meaning given by regulation 2(1) of the Contracts for Difference (Allocation) Regulations 2014.
10 Offer to contract
(1) An offer of a CFD is made by the CFD counterparty signing the relevant number of copies of a CFD completed in accordance with regulation 9(3) and sending all copies to the eligible generator. (1A) In paragraph (1), “the relevant number of copies” means— (a) two copies; or (b) where the eligible generator is an unincorporated association, the number of copies required for there to be one for each member of the unincorporated association and one for the CFD counterparty. (2) The CFD counterparty must make an offer of a CFD in relation to a CFD unit within 10 working days of the later of— (a) the date the CFD counterparty receives a CFD notification in relation to that CFD unit; and (b) the date that the Secretary of State gives notice to the CFD counterparty of amendments made to the sustainable industry reward statement in relation to that CFD unit under regulation 42A(4) of the Contracts for Difference (Allocation) Regulations 2014. (3) The eligible generator, to whom the offer of a CFD is made, enters into a CFD where— (a) the eligible generator signs all copies of a CFD and returns one copy to the CFD counterparty; and (b) the CFD counterparty gives the eligible generator a notice stating that the CFD counterparty has received a copy of the CFD from the eligible generator which has been signed by all contracting parties. (4) The CFD counterparty must give the notice under paragraph (3)(b) as soon as reasonably practicable after the CFD counterparty receives a signed copy of a CFD from an eligible generator. (5) Where a CFD is entered into, the CFD counterparty must inform the delivery body as soon as reasonably practicable. (6) In this regulation, “CFD unit” has the meaning given by regulation 2(1) of the Contracts for Difference (Allocation) Regulations 2014.
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