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Paragraph 20 Resolution liaison panelI1I2

United Kingdom

(1)

The Treasury must make arrangements for a panel to advise the Treasury about the effect of the special resolution regime on—

(a)

CCPs,

(b)

persons with whom CCPs do business, and

(c)

the financial markets.

(2)

In particular, the panel may advise the Treasury about—

(a)

the exercise of powers to make statutory instruments under or by virtue of this Schedule, (excluding the stabilisation powers and regulations under paragraphs 87 and 153),

(b)

the code of practice under paragraph 16, and

(c)

anything else referred to the panel by the Treasury.

(3)

The Treasury must ensure that the panel includes—

(a)

a member appointed by the Treasury,

(b)

a member appointed by the Bank,

(c)

a member appointed by the PRA,

(d)

a member appointed by the FCA,

(e)

one or more persons who in the Treasury’s opinion represent the interests of CCPs,

(f)

one or more persons who in the Treasury’s opinion represent the interests of clearing members of CCPs,

(g)

one or more persons who in the Treasury’s opinion have expertise in law relating to the UK financial system, and

(h)

one or more persons who in the Treasury’s opinion have expertise in insolvency law and practice.

Annotations

Commencement

I1

Sch. 11 para. 20 not in force at Royal Assent, see s. 86(3)

I2

Sch. 11 para. 20 in force at 29.8.2023 by S.I. 2023/779, reg. 4(ddd)(iv)