Schedule 11: Central counterparties Part 5 – Special resolution action Stay or sist of legal proceedings
Paragraph 106 provides that where the Bank has exercised a stabilisation power in relation to a CCP or CCP group company, and that CCP or CCP group company is a party to legal proceedings before the court in the UK, the Bank may apply to that court for a stay of proceedings where the Bank reasonably considers it necessary for the effective application of the stabilisation powers.