Schedule 11, Part 5, paragraph 22(2)

The purpose of a valuation carried out under sub-paragraph (1) is to— inform the decision as to— whether the conditions for the exercise of a stabilisation power are satisfied, which stabilisation option should be employed, the extent to which any liabilities should be cancelled, modified, converted or deferred through the use of a write-down instrument, the extent to which any securities should be cancelled, diluted, modified, converted or deferred through the use of a write-down instrument, what assets, liabilities or securities (if any) are to be transferred by a property transfer instrument, share transfer instrument or write-down instrument, and the value of any consideration to be paid to the CCP or the owners of the securities for any assets, liabilities or securities so transferred, and ensure that the full extent of any losses on the assets of that CCP are appreciated at the time that the Bank exercises a stabilisation power.

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