Schedule 11: Central counterparties Part 5 – Special resolution action Report on provisions in write-down instrument
Paragraph 36 applies to a relevant provision in a write-down instrument as referred to in para 34(2), and provides that the Bank must report to the Chancellor stating reasons why that provision has been made in the case of the liabilities concerned and the reasons for any deviation from normal certain specified insolvency treatment principles. The Chancellor must lay a copy of this report before Parliament.