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Banking Act 2009

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Changes over time for: Section 89E

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Version Superseded: 31/12/2023

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Status:

Point in time view as at 31/12/2020. This version of this provision has been superseded. Help about Status

Changes to legislation:

Banking Act 2009, Section 89E is up to date with all changes known to be in force on or before 18 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F189ERecognition of transferee companyU.K.
This adran has no associated Nodiadau Esboniadol

(1)The Bank of England may provide for a company to which the business of a [F2recognised central counterparty] is transferred in accordance with section 12(2) to be treated as a [F3recognised central counterparty] for the purposes of the Financial Services and Markets Act 2000—

(a)for a specified period, or

(b)until a specified event occurs.

(2)The provision may have effect—

(a)for a period specified in the instrument, or

(b)until the occurrence of an event specified or described in the instrument.

(3)The power under this section—

(a)may be exercised only with the consent of the Treasury, and

(b)must be exercised by way of provision in a property transfer instrument (or supplemental instrument).]

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