The Resolution of Central Counterparties (Modified Application of Corporate Law and Consequential Amendments) Regulations 2023
These Regulations apply certain provisions of the Companies Act 2006 (c. 46) (“the 2006 Act”) and related legislation with modifications, and make consequential amendments to primary and secondary legislation, in relation to the introduction of a new special resolution regime for central counterparties (“CCPs”) in Schedule 11 (central counterparties) to the Financial Services Act 2023 (c. 29) (“the CCP Schedule”). This replaces the current special resolution regime in Part 1 of the Banking Act 2009 (c. 1) (“the BA09 regime”).