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Version status: Applicable | Document consolidation status: No known changes
Version date: 12 August 2022 - onwards
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Article 48 General powers

1. The resolution authority shall have all the powers necessary to apply the resolution tools effectively, including all the following powers:

(a) to require any person to provide the resolution authority with any information it requires to decide upon and prepare a resolution action, including updates and additional information to that provided in the resolution plan or required through on-site inspections;

(b) to take control of a CCP under resolution and exercise all the rights and powers conferred upon holders of instruments of ownership and the CCP's board including the rights and powers under the operating rules of the CCP;

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

(d) to transfer to another entity, with its consent, the CCP's rights, assets, obligations or liabilities;

(e) to reduce, including to reduce to zero, the principal amount of or outstanding amount due in respect of debt instruments or other unsecured liabilities of a CCP under resolutio

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