# Financial Services and Markets Act 2023, Paragraph 59: Recognised central counterparty rules

Extent: E+W+S+N.I.

(1) A property transfer instrument made in respect of a CCP may make provision about the consequences of a transfer for the rules of the CCP.
(2) In particular, an instrument may—
(a) modify or amend the rules of a CCP;
(b) in a case where some, but not all, of the business of a CCP is transferred, make provision as to the application of the rules in relation to the parts of the business that are, and are not, transferred.
(3) Provision by virtue of this paragraph may (but need not) be limited so as to have effect—
(a) for a specified period, or
(b) until a specified event occurs or does not occur.

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Source: https://www.legislation.gov.uk/ukpga/2023/29/schedule/11/paragraph/59 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2023/schedule-11/paragraph-59
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.