English law - ISDA Provision
Overview
The expression “English law” is used, but not defined in the 1992 ISDA. It is defined in the 2002 ISDA, though curiously with a lower case “l” for “law”, and is useful as a toggle in the Governing Law clause, and to default to a Termination Currency if you have forgotten to provide one (for English law, the default Termination Currency is ... euro ... ouch ouch ouch can you imagine how UKIP must feel about that?), but not necessarily something that is going to move the world, even if the political and juridical subdivisions of what they used to call Albion are an utter Zodiac Mindwarp if you are careless enough to investigate them for a while. And no, Brexit means Brexit did not help.
Summary
Though there are some British Isles, seeing as they include the Republic of Ireland, there is no British law. Though there is a Great Britain — being the largest of the British Isles: the one with England, Scotland and Wales on it — there is no law of Great Britain. Though the political entity is the United Kingdom of Great Britain and Northern Ireland, there is no UK law. The Scots do their own thing. And let us not get into how the Anglo memeplex is represented in the world’s sporting tournaments.
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- The JC’s famous Nutshell™ summary of this clause