OpenLegislation

Paragraph 121 Appointment of persons to carry out general investigationsI1I2

United Kingdom

(1)

This paragraph applies only for the purposes of the functions of the Bank conferred by or under this Schedule.

(2)

If it appears to the Bank that there is a good reason for doing so, the Bank may appoint one or more competent persons to conduct an investigation on its behalf into—

(a)

the nature, conduct or state of the business of a CCP,

(b)

a particular aspect of that business, or

(c)

the ownership or control of a CCP.

(3)

If a person appointed under sub-paragraph (2) thinks it necessary for the purposes of the investigation, that person may also investigate the business of a person who is or has at any relevant time been a member of a group of which the CCP under investigation is part.

(4)

A person appointed under sub-paragraph (2) who decides to investigate the business of any person under sub-paragraph (3) must give that person written notice of that decision.

(5)

In this paragraph, “business” includes any part of a business.

Annotations

Commencement

I1

Sch. 11 para. 121 not in force at Royal Assent, see s. 86(3)

I2

Sch. 11 para. 121 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)