Schedule 11, Part 5, paragraph 21

Where the Bank has exercised the first stabilisation option (private sector purchaser) in respect of a CCP it may only exercise the relevant resolution powers in relation to the residual CCP. Where the Bank has exercised the third stabilisation option (transfer of ownership) in respect of a CCP it may only exercise the relevant resolution powers in respect of the CCP where the transferee under paragraph 30 is— the Bank, a company wholly owned by the Bank or the Treasury, or a nominee of the Treasury. In this paragraph— “relevant resolution powers” means any of the resolution powers under paragraphs 27 to 38; the “residual CCP” means the CCP all or part of whose business has been transferred in accordance with paragraph 27(2).

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