SCHEDULES

SCHEDULE 21 Additional Requirements for Recognition

Part IIU.K. clearing houses

Margin

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1

The rules of the clearing house must provide that, in the event of a default, margin provided by the defaulter for his own account is not to be applied to meet a shortfall on a client account.

2

This is without prejudice to the requirements of any relevant regulations under section 55 of the M1Financial Services Act 1986 (clients’ money).