Schedule 11, Part 5, paragraph 17(6)

For the purposes of Condition 1, a CCP is failing or likely to fail if one or more of the following apply— the CCP is failing or is likely to fail to meet the recognition requirements (within the meaning of section 286 of FSMA 2000); the value of the assets of the CCP is less than the amount of its liabilities; the CCP is unable to pay its debts or other liabilities as they fall due; any of paragraphs (a) to (c) will, in the near future, apply to the CCP; extraordinary public financial support is required in respect of the CCP and sub-paragraph (9) does not apply to that support.

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