(1) Where a former authorised market operator is the subject of any termination process, the person responsible is, from the date of the commencement of that process, subject to -
(a) the obligations that were imposed on the operator by these Regulations, in the operator's previous capacity as an authorised market operator, and
(b) any conditions and requirements that were imposed on the operator by the Bank under these Regulations, in the operator's previous capacity as an authorised market operator,
until all the obligations of the operator have been discharged to the satisfaction of the Bank.
(2) The obligations imposed on a person responsible under paragraph (1) are additional to the obligations of that person during the termination process.
(3) Notwithstanding paragraph (1), if the Bank considers it appropriate in the circumstances, the Bank, on giving notice in writing to the person responsible for a former authorised market operator referred to in paragraph (1) may in writi