166. Change in Default Rules

(1) A Non-Abu Dhabi Global Market Recognised Clearing House in respect of which an order under section 165(7) has been made and not revoked must give the Regulator at least one month's notice of any proposal to amend, revoke or add to its Default Rules.
(2) The Regulator may, if it considers it appropriate to do so, agree a shorter period of notice.
(3) Where notice is given to the Regulator under subsection (1), a Non-Abu Dhabi Global Market Recognised Clearing House must provide the Regulator with such information, Documents and reports as the Regulator may require.
(4) Information, Documents and reports required under subsection (3) must be provided in English and be given at such times, in such form and at such place, and verified in such a manner, as the Regulator may direct.
(5) Section 158 does not apply to a Non-Abu Dhabi Global Market Recognised Clearing House unless it has been notified by the Regulator that a report under that section is required for the purposes of insolvency proceedings in the Court.
(6) In relation to a Non-Abu Dhabi Global Market Recognised Clearing House, references in this Part to the "rules" or "Default Rules" of the Recognised Clearing House are to be taken not to include references to any Relevant Provisions unless —
(a) the Relevant Provisions satisfy the Relevant Requirements; or
(b) the Regulator has made an order under section 165(7) recognising that the Relevant Provisions of its Default Rules satisfy the Relevant Requirements and the order has not been revoked.