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Paragraph 110 International obligation notice: bridge central counterpartyI1I2

United Kingdom

(1)

This paragraph applies where the Bank has transferred all or part of a CCP’s business to a bridge central counterparty.

(2)

The Bank must comply with any notice of the Treasury requiring the Bank, for the purpose of ensuring compliance by the United Kingdom with its international obligations—

(a)

to take specified action under this Schedule in respect of the bridge central counterparty, or

(b)

not to take specified action under this Schedule in respect of the bridge central counterparty.

(3)

A notice under sub-paragraph (2)—

(a)

must be in writing, and

(b)

may be withdrawn (generally, partially or conditionally).

(4)

A notice may include requirements about timing.

Annotations

Commencement

I1

Sch. 11 para. 110 not in force at Royal Assent, see s. 86(3)

I2

Sch. 11 para. 110 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)