Schedule 11: Central counterparties Part 5 – Special resolution action Continuity obligations: onward share transfers
Paragraph 94 provides for the Bank to extend the general continuity obligation of paragraph 92 or special continuity obligations of paragraph 93 in the circumstances of an onward transfer of securities.
	Sub-paragraph (3) outlines who the Bank may impose obligations on. Sub-paragraph (4) provides that onward obligations may be in addition to, or replace, initial obligations.
	The power under this paragraph is exercisable by giving a notice both to each person on whom a continuity obligation is to be imposed, and the person who is expected to benefit from it. The Bank may exercise the power only with the consent of HM Treasury.