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Version date: 12 August 2022 - onwards
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Article 42 Bridge CCP tool

1. The resolution authority may transfer to a bridge CCP the following:

(a) instruments of ownership issued by a CCP under resolution;

(b) any assets, rights, obligations or liabilities of the CCP under resolution.

The transfer referred to in the first subparagraph may take place without obtaining the consent of the shareholders of the CCP under resolution or any third party other than the bridge CCP and without complying with any procedural requirements under company or securities law other than those provided for in Article 43.

2. The bridge CCP shall be a legal person that:

(a) is controlled by the resolution authority and is wholly or partially owned by one or more public authorities which may include the resolution authority; and

(b) is established or used for the purpose of receiving and holding some or all of the instruments of ownership issued by a CCP under resolution or some or all of the assets, rights, obligations and liabilities of the CCP with a view to maintaining the cr

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