18. Settlement and Netting not affected by variation or revocation of designation

The variation or revocation of a designation under section 10(1)(a) does not affect the application of sections 11 (Payment System Rules of Designated Payment Systems valid and enforceable), 12 (Settlements and provision of Collateral Security must not be reversed etc.) and 14 (Netting valid and enforceable) to Settlements that were effected, and Netting that took place, before the variation or revocation.