Directors and senior managersU.K.
45(1)A share transfer instrument may enable the Bank—
(a)to remove a director or senior manager of a specified CCP;
(b)to vary the service contract of a director or senior manager of a specified CCP;
(c)to terminate the service contract of a director or senior manager of a specified CCP;
(d)to appoint a director or a senior manager of a specified CCP.
(2)Sub-paragraph (1) also applies to a director or senior manager of a relevant CCP group company of the specified CCP.
(3)A “relevant CCP group company” means a CCP group company that is incorporated in, or formed under the law of any part of, the United Kingdom.
(4)Appointments under sub-paragraph (1)(d) are to be on terms and conditions agreed with the Bank.
Commencement Information
I1Sch. 11 para. 45 not in force at Royal Assent, see s. 86(3)
I2Sch. 11 para. 45 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)