150. Introduction

(1) This Part has effect for the purposes of safeguarding the operation of certain financial markets by provisions with respect to —
(a) the insolvency, Winding-Up or Default of a person party to transactions in the market (sections 151 to 165);
(b) the effectiveness or enforcement of certain Charges given to secure obligations in connection with such transactions (sections 167 to 169); and
(c) rights and remedies in relation to certain property provided as cover for margin in relation to such transactions or as Default Fund Contributions, or subject to such a Charge (sections 170 to 174).
(2) For the purposes of this Part, "notice" will be deemed to have been given if the person to whom the notice was given deliberately failed to make enquiries as to that matter in circumstances in which a reasonable and honest person would have done so. This does not apply for the purposes of a provision requiring actual notice or actual written notice.