{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2023/schedule-11/paragraph-21",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2023/schedule-11/paragraph-21.json",
  "legislation": "ukpga/2023/29",
  "legislation_title": "Financial Services and Markets Act 2023",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2023",
  "path": "schedule/11/paragraph/21",
  "kind": "paragraph",
  "number": "21",
  "heading": "Restrictions on use of certain resolution powers",
  "text": "(1) Where the Bank has exercised the first stabilisation option (private sector purchaser) in respect of a CCP it may only exercise the relevant resolution powers in relation to the residual CCP.\n(2) Where the Bank has exercised the third stabilisation option (transfer of ownership) in respect of a CCP it may only exercise the relevant resolution powers in respect of the CCP where the transferee under paragraph 30 is—\n(a) the Bank,\n(b) a company wholly owned by the Bank or the Treasury, or\n(c) a nominee of the Treasury.\n(3) In this paragraph—\n“relevant resolution powers” means any of the resolution powers under paragraphs 27 to 38;\nthe “residual CCP” means the CCP all or part of whose business has been transferred in accordance with paragraph 27(2).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 11 para. 21 not in force at Royal Assent, see s. 86(3)"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "Sch. 11 para. 21 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2023/29/schedule/11/paragraph/21",
    "retrieved_at": "2026-10-29T08:52:13.792774+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}