Paragraph 18 Effect on other group membersI1I2
United Kingdom
Where the Bank is considering the exercise of a stabilisation power in respect of a CCP which is a member of a group, the Bank must have regard to—
(a)
the need to minimise the effect of the exercise of the power on other undertakings in the same group, and
(b)
the potential effect of the exercise of the power on the financial stability of countries other than the United Kingdom (particularly those countries in which any member of that group is operating).
Annotations
Commencement
- I1
Sch. 11 para. 18 not in force at Royal Assent, see s. 86(3)
- I2
Sch. 11 para. 18 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)