Schedule 11, Part 7, paragraph 145(6)

In this paragraph— “third-country central counterparty” has the meaning given by section 285 of FSMA 2000; “third-country resolution action” means action under the law of a country or territory outside the United Kingdom to manage the failure or likely failure of a third-country central counterparty— the anticipated results of which are, in relation to a third-country central counterparty, broadly comparable to results which could have been anticipated from the exercise of a stabilisation option in relation to an entity in the United Kingdom corresponding to the third-country central counterparty, and the objectives of which are broadly comparable, in relation to the country or territory concerned, to the special resolution objectives in paragraph 15 as they apply in relation to the United Kingdom.

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