Schedule 11, Part 5, paragraph 31(4)

On the basis of the determination under sub-paragraph (3) the Bank must as soon as reasonably practicable either— require the CCP to make a commercially reasonable payment, representing the value of the terminated contract, to the clearing member who is a party to the contract, or require the clearing member who is a party to the contract to make a commercially reasonable payment, representing the value of the terminated contract, to the CCP.

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