Schedule 11: Central counterparties Part 4 – Removal of directors and senior managers Removal of directors and senior managers and appointment of temporary manager: procedure
Paragraph 11(1) outlines that the powers to remove directors or appoint a temporary manager may take effect immediately, or at a specified date.
	Sub-paragraphs (2) and (3) specify that the Bank must give written notice to the CCP, and in some cases the directors and senior managers to whom the requirement relates when exercising the powers mentioned in paragraphs 5 or 6, or in cases where representations have been made and the Bank does or does not change their approach in light of this.