Schedule 11: Central counterparties Part 5 – Special resolution action Continuity
Paragraph 57 states that, when a property transfer instrument is made, provision can be made to ensure the continuity of arrangements operating in respect of a CCP.
	Sub-paragraph (1) enables the property transfer instrument to include provision that the transferee can be treated as the same person as the transferor for any purpose connected with the transfer and for the transfer to be treated as a succession.
	Sub-paragraph (2) enables the property transfer instrument to include provision that agreements made or other things done by or in relation to a transferor are treated as made or done by or in relation to the transferee. This provision would enable, for example, the CCP to continue to benefit from arrangements entered into by the transferor, notwithstanding any rights triggered on the transfer.
	Sub-paragraph (3) provides that anything related to things that have been transferred under the instrument, which are already in the process of being done by or to the transferor immediately before the transfer can be continued in relation to the transferee. This can include continuation of legal proceedings by or in relation to the transferee.
	Sub-paragraph (4) allows for provision to be included in a property transfer instrument about continuity of employment.
	Sub-paragraph (5) allows for the modification of references to the transferor in instruments or document.
	Sub-paragraph (6) provides that in so far as rights and liabilities in respect of anything transferred are enforceable after a transfer date, a property transfer instrument can apportion them as between the transferor and the transferee.
	Sub-paragraph (7) provides that the transferor and the transferee may, by agreement, modify a provision of the instrument. Such a modification must achieve a result that could have been achieved by the instrument, and may not transfer (or arrange the transfer of) property rights or liabilities.
	Sub-paragraph (8) allows for provision of information and assistance to be required or permitted between the transferor and the transferee under a property transfer instrument.