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Regulation 3
1. Schedule 6 to the Insolvency Act 1986 (preferential debts) is amended in accordance with paragraphs 2 and 3.
Commencement Information
I1Sch. 2 para. 1 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
2. In paragraph 15BB M1—U.K.
(a)in sub-paragraph (a)—
(i)for “non-EEA” substitute “ non-UK ”; and
(ii)for “an EEA state” substitute “ the United Kingdom ”;
(b)in sub-paragraph (b), for “an EEA” substitute “ a UK ”.
Commencement Information
I2Sch. 2 para. 2 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M1Inserted by S.I. 2014/3486.
3. In paragraph 15C M2—U.K.
(a)in sub-paragraph (3) for paragraph (b) substitute—
“(b)any micro, small and medium-sized enterprise, as defined with regard to the annual turnover criterion referred to in Article 2(1) of the Annex to Commission recommendation 2003/361/EC.”.
(b)in sub-paragraph (4)—
(i)for paragraphs (b) and (c) substitute—
“(b)“non-UK branch” means a branch, as defined in Article 4.1(17) of the capital requirements regulation, which is established outside the United Kingdom;
(c)“UK branch” means a branch, as so defined, which is established in the United Kingdom,”;
(ii)at the end, insert “ , as it [F1forms part of retained EU law]”.
Textual Amendments
F1Words in Sch. 2 para. 3(b)(ii) substituted (31.12.2020 immediately before IP completiton day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), reg. 1(4), Sch. para. 1(1)(2)(k)(ii)
Commencement Information
I3Sch. 2 para. 3(b)(ii) in force at 21.12.2018 and Sch. 2 para. 3 in force otherwise at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)(3)(c)
Marginal Citations
M2Inserted by the Financial Services (Banking Reform) Act 2013 and amended by S.I. 2014/3486 and 2015/486.
4. Paragraph 5 of Schedule 7 to the Financial Services (Banking Reform) Act 2013 (provision that may be made by a financial market infrastructure transfer scheme) is amended as follows—
(a)at the end of sub-paragraph (2)(e), insert the words “ (including under legislation of the European Union) ”; and
(b)in sub-paragraph (2)(f), omit “, EU instrument”.
Commencement Information
I4Sch. 2 para. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)