§ 21 — Quantity of MSR product to be held

21.—(1) For the purposes of section 20(a), the daily MSR for an MSR product designated for an entity on a day, is the quantity specified in the trigger notice that —(a)

is in force for that day; and

(b)

was given to the entity in relation to that MSR product.

(2) For the purposes of section 20(b), the average MSR for an MSR product designated for an entity for a relevant period applicable to an entity, is the quantity that —(a)

is worked out in accordance with section 23(3) for the relevant period and the entity; and

(b)

is specified in the trigger notice that —(i)

is in force for the whole of that relevant period; and

(ii)

was given to the entity in relation to that MSR product.

—(1) For the purposes of section 20(a), the daily MSR for an MSR product designated for an entity on a day, is the quantity specified in the trigger notice that —(a)

is in force for that day; and

(b)

was given to the entity in relation to that MSR product.

(2) For the purposes of section 20(b), the average MSR for an MSR product designated for an entity for a relevant period applicable to an entity, is the quantity that —(a)

is worked out in accordance with section 23(3) for the relevant period and the entity; and

(b)

is specified in the trigger notice that —(i)

is in force for the whole of that relevant period; and

(ii)

was given to the entity in relation to that MSR product.