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Paragraph 60 Recognised central counterparty membershipI1I2

United Kingdom

(1)

A property transfer instrument made in respect of a CCP may make provision about the consequences of a transfer for membership of the CCP.

(2)

In particular, an instrument may—

(a)

make provision modifying the terms on which a person is a clearing member of a CCP;

(b)

in a case where some, but not all, of the business of a CCP is transferred, provide for a person who was a clearing member of the transferor to remain a clearing member of the transferor while also becoming a clearing member of the transferee.

Annotations

Commencement

I1

Sch. 11 para. 60 not in force at Royal Assent, see s. 86(3)

I2

Sch. 11 para. 60 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)