Paragraph 156 Interpretation: “CCP group company”, etcI1 I2

United Kingdom

(1)

In this Schedule “CCP group company” means an undertaking—

(a)

which is (or, but for the exercise of a stabilisation power, would be) in the same group as a CCP, and

(b)

in respect of which any conditions specified in regulations made by the Treasury are met.

(2)

Regulations under this paragraph may require the Bank to consult specified persons before determining whether the conditions are met.

(3)

Regulations under this paragraph are subject to the affirmative procedure.

(4)

Undertakings are in the same group for the purposes of paragraph 117 and this paragraph if they are group undertakings in respect of each other.

(5)

Expressions defined in the Companies Act 2006 have the same meaning in paragraph 117 and this paragraph as in that Act.

Annotations