# Financial Services and Markets Act 2023, Paragraph 108: Recognition of transferee company

Extent: E+W+S+N.I.

(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.

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Source: https://www.legislation.gov.uk/ukpga/2023/29/schedule/11/paragraph/108 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2023/schedule-11/paragraph-108
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.