SCHEDULES
SCHEDULE 11Central counterparties
PART 5Special resolution action
I1I2108Recognition of transferee company
1
The Bank may provide for a company to which the business of a CCP is transferred in accordance with paragraph 29(3) to be treated as a CCP for the purposes of FSMA 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 paragraph—
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.