Schedule 11: Central counterparties Part 4 – Removal of directors and senior managers Temporary manager
Paragraph 6 outlines that the Bank may appoint a person or more than one person to act as a temporary manager of the CCP, either replacing or working with the directors of a CCP, and that the temporary manager will have the functions specified in paragraph 9. Paragraph 6(7) outlines the powers of instruction the Bank could utilise if the temporary manager is being appointed to work with the directors.
	Sub-paragraphs (4) to (6) outline the functions and powers of the temporary manager that may be specified under paragraph 9.