The Contracts for Difference (Standard Terms) Regulations 2014
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Change 1
9 Preparation of a CFD
(1) At the same time as giving an application window notice, the Secretary of State must give a notice (a “CFD standard terms notice”) to the CFD counterparty setting out— (a) the way in which the CFD counterparty must use the information in the CFD notification to apply or complete the standard terms; and (b) which standard terms can be used by the CFD counterparty to offer a CFD in that allocation round. (2) The notice must be published on the CFD counterparty’s website as soon as reasonably practicable after it is received. (2A) The Secretary of State may issue a replacement notice (a “replacement CFD standard terms notice”)— (a) for the purpose of correcting an error in the CFD standard terms notice; (b) for the purpose of updating a reference in the CFD standard terms notice to a version of the standard terms which has been superseded by revised standard terms issued in accordance with section 11(2) of the Act. (2B) A replacement CFD standard terms notice may not be issued later than 20 working days before the date specified in an application window notice as the first date on which an application for a CFD may be made. (2C) A replacement CFD standard terms notice must be published on the CFD counterparty’s website as soon as reasonably practicable after it is received. (3) Where a CFD notification is given to the CFD counterparty by the delivery body, the CFD counterparty must apply or complete the standard terms (or the standard terms as modified in accordance with any modification agreement) in accordance with— (a) the CFD standard terms notice or any replacement CFD standard terms notice; ... (b) the information contained in the CFD notification ; and (c) where regulation 42A of the Contracts for Difference (Allocation) Regulations 2014 applies, the information contained in any amended sustainable industry reward statement.
9 Preparation of a CFD
(1) At the same time as giving an application window notice, the Secretary of State must give a notice (a “CFD standard terms notice”) to the CFD counterparty setting out— (a) the way in which the CFD counterparty must use the information in the CFD notification to apply or complete the standard terms; and (b) which standard terms can be used by the CFD counterparty to offer a CFD in that allocation round. (2) The notice must be published on the CFD counterparty’s website as soon as reasonably practicable after it is received. (2A) The Secretary of State may issue a replacement notice (a “replacement CFD standard terms notice”)— (a) for the purpose of correcting an error in the CFD standard terms notice; (b) for the purpose of updating a reference in the CFD standard terms notice to a version of the standard terms which has been superseded by revised standard terms issued in accordance with section 11(2) of the Act. (2B) A replacement CFD standard terms notice may not be issued later than 20 working days before the date specified in an application window notice as the first date on which an application for a CFD may be made. (2C) A replacement CFD standard terms notice must be published on the CFD counterparty’s website as soon as reasonably practicable after it is received. (3) Where a CFD notification is given to the CFD counterparty by the delivery body, the CFD counterparty must apply or complete the standard terms (or the standard terms as modified in accordance with any modification agreement) in accordance with— (a) the CFD standard terms notice or any replacement CFD standard terms notice; ... (b) the information contained in the CFD notification ; and (c) where regulation 42A of the Contracts for Difference (Allocation) Regulations 2014 applies, the information contained in any amended sustainable industry reward statement.
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