Banking Act 2009

[F1 89C [F2 Recognised central counterparty] rules U.K.

(1) A property transfer instrument made in respect of a [F3 recognised central counterparty] may make provision about the consequences of a transfer for the rules of the [F2 recognised central counterparty].

(2) In particular, an instrument may—

(a) modify or amend the rules of a [F3 recognised central counterparty];

(b) in a case where some, but not all, of the business of a [F3 recognised central counterparty] is transferred, make provision as to the application of the rules in relation to the parts of the business that are, and are not, transferred.

(3) Provision by virtue of this section may (but need not) be limited so as to have effect—

(a) for a specified period, or

(b) until a specified event occurs or does not occur.]

Textual Amendments

F1 Ss. 89B-89G and cross-heading inserted (5.6.2014 for specified purposes, 1.8.2014 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 102(6), 122(3) (with Sch. 20); S.I. 2014/1447, art. 2(h); S.I. 2014/1847, art. 2

F2 Words in s. 89C substituted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 25(3) (with regs. 52-58)

F3 Words in Act substituted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 25(2) (with regs. 52-58)