Schedule 11, Part 5, paragraph 29(5)

The Bank must, without delay, take all necessary steps to wind up the bridge central counterparty if— all or substantially all of the bridge central counterparty’s assets, rights and liabilities have been transferred to a third party, or following a transfer to the bridge central counterparty under this paragraph, no further transfer to the bridge central counterparty is made under this paragraph during the relevant post-transfer period.

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