Protease subunit of a proteasome-like degradation complex believed to be a general protein degrading machinery. ATP-dependent cleavage of peptide bonds with broad specificity. Allosterically activated by HslU binding. A double ring-shaped homohexamer of HslV is capped on each side by a ring-shaped HslU homohexamer. The assembly of the HslU/HslV complex is dependent on binding of ATP. Belongs to the peptidase T1B family. HslV subfamily.