Schedule 11: Central counterparties Part 5 – Special resolution action Onward transfer
Where the Bank has made a share transfer instrument, it may then make onward share transfer instruments.
	These may provide for two things: first, for the transfer of securities meeting the description specified in paragraph 50(3)(a); and, second, for any provision in relation to the relevant securities.
	Paragraph 50(4) stipulates that the transferee may not be the transferor under the original order, and the Bank may not make an onward share transfer unless the transferee falls into the conditions outlined in paragraph 50(5).
	The general and specific conditions (paragraph 17 and 19) do not apply to an onwards transfer. Paragraph 50(7) provides that the Bank must consult the FCA, and the PRA if the CCP is authorised by the PRA.
	Paragraph 48 applies where the Bank has made an onward share transfer instrument.