(1) Subject to subsection (1ZA), this Part applies to recognised central counterparties as it applies to banks, subject to -
(za) subsection (1A),
(a) the modifications specified in subsections (2) to (5), and in the Table in subsection (6), and
(b) any other necessary modifications.
(1ZA) For the purposes of this section and sections 89C to 89G, this Act has effect disregarding any amendments made by the Bank Recovery and Resolution Order 2014 or by the Bank Recovery and Resolution Order 2016 or by the Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020.
(1A) The provisions relating to the third stabilisation option (bail-in) are to be disregarded in the application of this Part to recognised central counterparties.
(2) For section 13 substitute -
"13 Transfer of ownership
(1) The fourth stabilisation option is to transfer ownership of the recognised central counterparty to any person.
(2) For that purpose the Bank of England may make one or more share transfer i