Schedule 11, Part 5, paragraph 34(6)

The reference to changing the form of a liability owed by the CCP includes, for example— converting an instrument under which a CCP owes a liability from one form or class to another, replacing such an instrument with another instrument of a different form or class, creating a new security (of any form or class) in connection with the modification of such an instrument, or converting those liabilities into securities issued by the CCP or a bridge central counterparty or UK parent of the CCP.

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