
1 
These Regulations may be cited as the Financial Markets and Insolvency (Ecu Contracts) Regulations 1998 and shall come into force on 2nd February 1998.
2 
In the Financial Markets and Insolvency (Money Market) Regulations 1995 regulation 2 shall be amended as follows:
(a) below the definition of “default rules” the following shall be inserted:“
 “ecu” means the unit of account of that name defined in Council Regulation (EEC) No. 3320/94;”
(b) the defintion of “money market contract” shall be replaced by the following—“
 “money market contract” means a contract in relation to which a listed person provides settlement arrangements and which is a contract for the acquisition or disposal either of—
(i) currency of the United Kingdom or of any other country or territory; or
(ii) rights under a contract the value of which is determined by reference to the value of the ecu;”
Graham Allen
Bob Ainsworth
Two of the Lord’s Commissioners of her Majesty’s Treasury
12th January 1998Nigel Griffiths
Parliamentary Under Secretary of State
Department of Trade and Industry
28th December 1997