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Article (134) Preservation of Rights in Underlying Transactions

Fed Law 14/2018 Issued on 1/10/2018

1) Except to the extent that it expressly provides, this decretal law shall not operate to limit, restrict or otherwise affect:

a. Any right, title, interest, privilege, obligation or liability of a Person resulting from the underlying transaction in respect of a Transfer Order that has been entered into a Financial Infrastructure System, which meets any of the designation conditions referred to in item (2) of Article (126).

b. Any investigation, legal proceedings or remedy in respect of any such right, title, interest, privilege, obligation or liability.

2) Nothing in item (1) of this article shall be construed to require:

a. The unwinding of any Netting done by the operator of the concerned system, whether pursuant to its Default Arrangements or otherwise;

b. The revocation of any Transfer Order given by a Participant Person which is entered into the concerned system; or

c. The reversal of a payment or settlement made under the operating rules of the concerned system.