Recognition of transferee companyU.K.
This section has no associated Explanatory Notes
108(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.
Commencement Information
I1Sch. 11 para. 108 not in force at Royal Assent, see s. 86(3)
I2Sch. 11 para. 108 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)