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Version status: Amended
Version date: 23 March 2023 - onwards
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Schedule 11, Part 2 Pre-resolution powers of the Bank of England (paras. 2-3)

This format of the bill is taken from the text of stage Committee stage published on 23 March 2023 by House of Lords

Section 54

Removal of impediments to the exercise of stabilisation powers etc

2

(1) The Bank may give directions to a CCP to take measures which the Bank considers are required to address impediments to the effective exercise of the stabilisation powers.

(2) The power conferred by sub-paragraph (1) includes (but is not limited to) a power to direct the CCP -

(a) to enter into or revise an agreement for the provision of services relating to the provision of critical clearing services;

(b) to limit its maximum individual and aggregate exposures to loss;

(c) to produce information which is relevant to the exercise of the stabilisation powers, and to provide that information to the Bank;

(d) to dispose of specified assets;

(e) to cease carrying out specified activities, or observe restrictions in relation to the carrying out of specified activities;

(f) to cease the development of new or existing business operations, or observe restrictions in relation to the development of such operations

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