Schedule 11: Central counterparties Part 5 – Special resolution action Recognised central counterparty membership
Paragraph 60 outlines that a property transfer instrument may make provision about the consequences of a transfer for membership of a CCP. Namely, an instrument may make provision which modifies the terms on which a person is a clearing member of a CCP, and where there has been a partial transfer provide for a person to remain a member of the transferor whilst also becoming a member of the transferee.