Schedule 11: Central counterparties Part 5 – Special resolution action Code of Practice
Paragraph 16 specifies that HM Treasury must issue a code of practice about the use of stabilisation powers, which the Bank must have regard to.
	Paragraph 16(2) outlines what the code may provide guidance on. This includes, amongst other things, how the special resolution objectives should be interpreted, how decisions over which stabilisation powers to exercise are expected to be made, and compensation arrangements including the methodology for calculating how much compensation may be owed to persons left financially worse off where stabilisation options are exercised.
	Paragraph 16 also clarifies that HM Treasury must consult the Bank, the FCA and the PRA before issuing the code, and must lay a copy before Parliament as soon as reasonably practicable after issuing it.