Schedule 11, Part 5, paragraph 70(5)

The Bank must not make a bridge central counterparty reverse property transfer instrument unless— the onward transferee is— a company wholly owned by the Bank, a company wholly owned by the Treasury, or a company wholly owned by a nominee of the Treasury, or the bridge central counterparty reverse property transfer is made with the written consent of the onward transferee.

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