Schedule 11: Central counterparties Part 2 – Pre-resolution powers of the Bank of England Safeguards relating to directions under paragraph 2
Paragraph 3 outlines the various safeguards relating to any directions given under paragraph 2, noting (but not limited to) the rights of the CCP to make representations and requirements for the Bank, including a requirement for the Bank to accompany any direction with a notice stating its reasons for exercising the power.