# Financial Services and Markets Act 2023, Paragraph 60: Recognised central counterparty membership

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 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.

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Source: https://www.legislation.gov.uk/ukpga/2023/29/schedule/11/paragraph/60 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2023/schedule-11/paragraph-60
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.