The Bank Recovery and Resolution ( No. 2) Order 2014 No. 3348

PART 17 U.K. Modified application of company law to banks etc in resolution

Modified application of the Companies Act 2006 (disapplication of [F1 Takeover Rules]) U.K.

219.—F2 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) Part 28 of the Companies Act 2006 (Takeovers etc) has effect as if, in section 943 (rules), after subsection (1) there were inserted—

[F3 “(1ZA)  Rules made in accordance with paragraph 7(1) and (2) of Part 2 of Schedule 1C] must provide that they do not apply in relation to any change in interests in shares or other transaction which is effected by the use of resolution tools, powers and mechanisms (within the meaning given in article 216 of the Bank Recovery and Resolution (No. 2) Order 2014).”.

Textual Amendments

F1 Words in art. 219 heading substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 110(2); 2020 c. 1, Sch. 5 para. 1(1)

F2 Art. 219(1) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 110(3); 2020 c. 1, Sch. 5 para. 1(1)

F3 Words in art. 219(2) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 110(4); 2020 c. 1, Sch. 5 para. 1(1)