Schedule 11: Central counterparties Part 5 – Special resolution action General continuity obligation: share transfers
Paragraph 92 makes provision for services to be provided in respect of a CCP transferred by share transfer from former group companies through means of a general obligation.
	Sub-paragraph (3) provides that each former group company (as defined in sub-paragraph (1)) must provide such services and facilities as required to enable the transferred CCP to operate effectively. This duty may be enforced as a contract (sub-paragraph (4)), continues even if the residual CCP or former group company enters insolvency (sub-paragraph (5)), and is not limited to the provision of services or facilities directly to the transferred CCP (sub-paragraph (8)).
	The Bank may also (with Treasury consent) specify activities that are required of the residual CCP or former group company (sub-paragraph (9)), with further detail in sub-paragraph (10).
	Sub-paragraph (6) provides that the residual CCP or former group company has a right to reasonable consideration, with extra detail provided in (sub-paragraph (7)).