Schedule 11: Central counterparties Part 4 – Removal of directors and senior managers Temporary manager: further provisions in relation to the appointment
Paragraph 8(1) clarifies that the Bank must be satisfied the temporary manager has the relevant experience and qualifications necessary to perform the role and has no conflicts of interest.
	Sub-paragraphs (2) to (4) outline that the Bank may not appoint a temporary manager for longer than a year, may vary the terms of the appointment (and remove the temporary manager) at any point, and clarifies the limitations of what the temporary manager will be liable for.