Commonwealth Consolidated Acts Commonwealth Consolidated Acts Subject to section 1424, in this Subdivision, a reference
to a clearing and settlement facility being operated immediately before the
FSR commencement is a reference to a clearing and settlement facility that had
not permanently ceased to operate before the FSR commencement, even if the
clearing and settlement of transactions by means of the facility was not
actually occurring immediately before the FSR commencement (for example,
because of a routine temporary closure of the facility).