SCHEDULES
SCHEDULE 11Central counterparties
PART 5Special resolution action
I1113Private sector purchaser: report
1
This paragraph applies where the Bank sells all or part of a CCP’s business to a commercial purchaser.
2
The Bank must report to the Chancellor of the Exchequer about the exercise of the power to make share transfer instruments and property transfer instruments under paragraph 27(2).
3
The report must comply with any requirements as to content specified by the Treasury.
4
The report must be made as soon as is reasonably practicable after the end of one year beginning with the date of the first transfer instrument made under paragraph 27(2).