Central counterparties in financial difficulties
As explained above, the UK has an existing recovery and resolution regime for central counterparties (CCPs), which came into force in 2014. This regime comprises Part 1 of the Banking Act 2009, as modified and extended to CCPs by section 102 of the Financial Services Act 2012, and secondary legislation made under the Banking Act 2009.
	Section 102 of the Financial Services Act 2012 inserted sections 89B to 89G into Part 1 of the Banking Act 2009, with section 89B setting out the modifications of Part 1 in its application to CCPs.
	Part 1 of the Banking Act 2009 has since been amended by the Bank Recovery and Resolution Order 2014, the Bank Recovery and Resolution Order 2016, and the Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020. None of these amendments affected the regime as it applies to CCPs, and section 89B(1ZA) disregards amendments made by these enactments for the purposes of the CCP regime.
	The existing resolution regime for CCPs is therefore based on the text of Part 1 of the Banking Act 2009, as amended in accordance with any amendments not disregarded under section 89B, as modified under section 89B 41 .