Schedule 11, Part 5, paragraph 23(2)

The purpose of the valuation carried out under sub-paragraph (1) is to— ensure the full extent of any losses on the assets of the CCP is recognised in the accounting records of the CCP, and inform a decision by the Bank as to whether— additional consideration should be paid by a bridge central counterparty for any property, rights or liabilities transferred by a property transfer instrument, or securities transferred by a share transfer instrument, or the Bank should exercise the power under paragraph 26 to increase or reinstate any liability which has been reduced, cancelled or deferred by a write-down instrument.

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