(1) In this
regulation —
function means a function under these regulations
or the market rules;
Rule Change Panel function means a function of the
Rule Change Panel before 1 July 2021.
(2) Without limiting
regulation 17(n), the market rules may provide for transitional matters
arising in connection with the transfer to the Coordinator of a Rule Change
Panel function.
(3) The provision that
may be made under subregulation (2) includes, without limitation, the
following —
(a)
provision for a thing done or omitted to be done by, to or in relation to the
Rule Change Panel before a transfer to be taken after the transfer to have
been done or omitted by, to or in relation to the Coordinator;
(b)
provision for a right or obligation of the Rule Change Panel before a transfer
to be taken after the transfer to be a right or obligation of the Coordinator;
(c)
provision for a reference to the Rule Change Panel in an instrument or
document made or given before a transfer for the purposes of these regulations
or the market rules to be taken after the transfer to be a reference to the
Coordinator.
(4) For the purposes
of this regulation, a Rule Change Panel function is transferred to the
Coordinator if —
(a) the
Rule Change Panel function becomes a function of the Coordinator (with or
without modifications); or
(b) a
function that is substantially the same as, or that is similar to, or that
otherwise replaces, the Rule Change Panel function is otherwise conferred on
the Coordinator.
[Regulation 17C inserted: SL 2021/2
r. 8.]