# Financial Services and Markets Act 2023, Paragraph 109: International obligation notice: general

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

(1) The Bank may not exercise a stabilisation power in respect of a CCP if the Treasury notify the Bank that the exercise would be likely to contravene an international obligation of the United Kingdom.
(2) A notice under sub-paragraph (1)—
(a) must be in writing, and
(b) may be withdrawn (generally, partially or conditionally).
(3) If the Treasury give a notice under sub-paragraph (1) the Bank must consider other exercises of the stabilisation powers with a view to—
(a) pursuing the special resolution objectives, and
(b) avoiding the objections on which the Treasury’s notice was based.
(4) The Treasury may by notice to the Bank disapply sub-paragraph (3) in respect of a CCP and a notice may be revoked by further notice.

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Source: https://www.legislation.gov.uk/ukpga/2023/29/schedule/11/paragraph/109 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2023/schedule-11/paragraph-109
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.