Schedule 11, Part 5, paragraph 109

The Bank may not exercise a stabilisation power in respect of a CCP if the Treasury notify the Bank that the exercise would be likely to contravene an international obligation of the United Kingdom. A notice under sub-paragraph (1)— must be in writing, and may be withdrawn (generally, partially or conditionally). If the Treasury give a notice under sub-paragraph (1) the Bank must consider other exercises of the stabilisation powers with a view to— pursuing the special resolution objectives, and avoiding the objections on which the Treasury’s notice was based. The Treasury may by notice to the Bank disapply sub-paragraph (3) in respect of a CCP and a notice may be revoked by further notice.

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