Article 196 - Modifications of the law of insolvency

(1) These Regulations have effect in relation to market contracts, and action taken under the rules of a designated exchange or designated clearing house with respect to such contracts, subject to the provisions of Articles 197 to 201.
(2) The QFC Authority may by rules add to, amend or repeal the provisions mentioned in Article 197(1), and any other provision of this Part as it applies for the purposes of those provisions, or provide that those provisions have effect subject to such additions, exceptions or adaptations as are specified in such rules.