{
  "url": "https://openlegislation.uk/draft-banking-act-2009-restriction-of-partial-property-transfers-recognised-central-counterparties-order-2014/article-7",
  "json_url": "https://openlegislation.uk/draft-banking-act-2009-restriction-of-partial-property-transfers-recognised-central-counterparties-order-2014/article-7.json",
  "legislation": "ukdsi/2014/9780111116234",
  "legislation_title": "The Banking Act 2009 (Restriction of Partial Property Transfers) (Recognised Central Counterparties) Order 2014",
  "legislation_url": "https://openlegislation.uk/draft-banking-act-2009-restriction-of-partial-property-transfers-recognised-central-counterparties-order-2014",
  "path": "article/7",
  "kind": "article",
  "number": "7",
  "heading": "Trusts",
  "text": "A partial property transfer to which this Order applies which makes provision under section 34(7)(a) of the Act may remove or alter the terms of the trust (howsoever arising) only to the extent necessary or expedient for the purpose of transferring from the recognised central counterparty to the transferee—\n(a) the legal or beneficial interest of the recognised central counterparty in the property held on trust;\n(b) any powers, rights or obligations of the recognised central counterparty in respect of the property held on trust.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Subsection (7) will be amended when the Financial Services Act 2012, section 98(1),(2) is commenced."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111116234/article/7",
    "retrieved_at": "2026-10-30T15:12:56.865787+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}