OpenLegislation

Paragraph 96 Continuity obligations: terminationI1I2

United Kingdom

(1)

The Bank may by notice terminate an obligation arising under paragraph 89 or 92.

(2)

The power under sub-paragraph (1) is exercisable by giving a notice to each person—

(a)

on whom the obligation is imposed, or

(b)

who has benefited or might have expected to benefit from the obligation.

(3)

A reference in sub-paragraph (1) to obligations under a paragraph includes a reference to obligations under that paragraph as applied under paragraph 91 or 94.

Annotations

Commencement

I1

Sch. 11 para. 96 not in force at Royal Assent, see s. 86(3)

I2

Sch. 11 para. 96 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)