Schedule 11: Central counterparties Part 5 – Special resolution action General continuity obligation: property transfers
Under paragraph 89, a residual CCP and each group company (as defined in sub-paragraph (1)) must provide such services and facilities as are required to enable a transferee to operate the transferred business (or part of it) effectively. This duty may be enforced as a contract (sub-paragraph (4)), continues even if the residual CCP or group company enter insolvency (sub-paragraph (5)), and is not limited to the provision of services or facilities directly to a transferee (sub-paragraph (8)).
	The Bank may also (with HM Treasury consent) specify activities that are required of the residual CCP or group company (sub-paragraph (9)), with further detail in sub-paragraph (10)).
	Sub-paragraph (6) provides that the residual CCP or group company has a right to reasonable consideration, with extra detail provided in (sub-paragraph (7)).