Schedule 11: Central counterparties Part 5 – Special resolution action Bridge central counterparties: reverse share transfers
Where the Bank has made a bridge CCP share transfer instrument, it may make one or more bridge CCP reverse share transfer instruments, as long as the transferee under the original instrument fulfils the criteria outlined in paragraph 53(4).
	A bridge CCP reverse share transfer instrument provides for securities to be transferred back to the transferor under the original instrument, as outlined in paragraph 53(3).
	The general and specific conditions (paragraph 17 and 19) do not apply to transfers made under paragraph 53. Paragraph 53(6) 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 instrument under paragraph 53.