Schedule 11: Central counterparties Part 5 – Special resolution action Restrictions on use of certain resolution powers
Paragraph 21 outlines restrictions on certain resolution powers; specifically, for the first stabilisation option (private sector purchaser), where the Bank may only exercise resolution powers in relation to a residual CCP; and the third stabilisation option (transfer of ownership), where the Bank may only exercise resolution powers where the transferee is the Bank, a company owned the Bank or HM Treasury, or a nominee of HM Treasury.