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Changes over time for: Section 2
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Version Superseded: 31/12/2020
Status:
Point in time view as at 16/12/2016. This version of this provision has been superseded.
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Changes to legislation:
There are currently no known outstanding effects for the The Banking Act 2009 (Mandatory Compensation Arrangements Following Bail-in) Regulations 2014, Section 2.
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InterpretationU.K.
This section has no associated Explanatory Memorandum
2.—(1) In these Regulations—
“the Act” means the Banking Act 2009;
“the Bank” means the Bank of England;
“banking institution” means—
(b)
a building society (within the meaning of section 119 of the Building Societies Act 1986) ;
(d)
a banking group company;
(e)
[a third-country institution (within the meaning of section 89JA of the Act (resolution of UK branches of third-country institutions)).]
“Case 1”, “Case 2”, “Case 3” and “Case 4” have the meanings given in regulation 3;
“initial instrument” has the meaning given in regulation 6(6);
“relevant banking institution” has the meaning given in regulation 6(6);
“relevant persons” has the meaning given in regulation 5(2);
(2) References to sections of the Act include, as the context requires, those sections [as applied with or without modifications by that Act as that Act has effect on the day on which the Bank Recovery and Resolution Order 2016 comes into force.]
(3) In these Regulations, “relevant compensation order” means—
(a)in relation to Case 1, the bail-in compensation order required to be made in relation to the resolution instrument;
(b)in relation to Case 2, Case 3 or Case 4, the third party compensation order required to be included in the compensation scheme order or the resolution fund order by regulation 4.
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