[296A Additional power to direct [recognised central counterparties]]
[296A Additional power to direct [recognised central counterparties]]

[(1)     The Bank of England may direct a [recognised central counterparty] to take, or refrain from taking, specified action if the Bank is satisfied that it is necessary to give the direction, having regard to the public interest in—

(a)     protecting and enhancing the stability of the UK financial system,

(b)     maintaining public confidence in the stability of the UK financial system,

(c)     maintaining the continuity of the . . . clearing services provided by the [recognised central counterparty], and

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