Schedule 11: Central counterparties Part 5 – Special resolution action Continuity obligations: onward property transfers
Paragraph 91 provides for the Bank or HM Treasury to extend the general continuity obligation of paragraph 89 or special continuity obligations of paragraph 90 in the circumstances of an onward transfer of property, rights or liabilities (so, for example, continuity obligations could be owed to the onward transferee).
	Sub-paragraph (3) provides that onward obligations may be imposed on the persons listed, whilst sub-paragraph (4) clarifies that these obligations may be imposed in addition to, or replacing, initial obligations.
	The power under this section is exercisable by giving a notice both to each person on whom a continuity obligation is to be imposed, and the person who is expected to benefit from it. The Bank may exercise the power only with the consent of HM Treasury.