173. Proceedings against market property by unsecured creditors

(1) Where property (other than Real Property) is held by a Recognised Body as margin in relation to Market Contracts or as Default Fund Contribution, or is subject to a Collateral Security Arrangement, no execution or other legal process for the enforcement of a judgment or order may be commenced or continued, and no distress may be levied against the property by a person not seeking to enforce any interest in or security over the property, except with the consent of —
(a) in the case of property provided as cover for margin or as Default Fund Contribution, the Recognised Body in question; or
(b) in the case of property subject to a Collateral Security Arrangement, the person in whose favour the Charge was granted.
(2) Where consent is given the proceedings may be commenced or continued notwithstanding any provision of the Insolvency Regulations 2015.
(3) Where by virtue of this section a person would not be entitled to enforce a judgment or order against any property, any injunction or other remedy granted with a view to facilitating the enforcement of any such judgment or order shall not extend to that property.