Schedule 11, Part 5, paragraph 106

This paragraph applies where— the Bank has exercised a stabilisation power in relation to a CCP or a CCP group company, and the CCP or CCP group company is a party to legal proceedings before a court in the United Kingdom. The Bank may apply to that court for a stay or sist of proceedings where the Bank reasonably considers that a stay or sist of those proceedings is necessary for an effective application of the stabilisation options or the stabilisation powers.

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Source: legislation.gov.uk · retrieved 2026-09-04