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The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018

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The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018, Paragraph 7 is up to date with all changes known to be in force on or before 09 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

The Banking Act 2009 (Restriction of Special Bail-in Provision, etc.) Order 2014U.K.

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7.—(1) The Banking Act 2009 (Restriction of Special Bail-in Provision, etc.) Order 2014 is amended as follows.

(2) In article 2 (interpretation)—

(a)in paragraph (1)—

F1(i). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(ii)in the definition of “transferable securities” for the words from “4.1(44)” to “instruments” substitute, “2.1(24) of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012”;

(b)in paragraph (2) for “Order 2016 comes” substitute “ (Amendment) (EU Exit) Regulations 2018 come ”.

(3) In article 5 (set-off and netting: meaning of “derivative” etc.), in paragraph (1), at the end insert “ as it [F2forms part of retained EU law].

(4) In article 8 (review), omit paragraph (2).

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Commencement Information

I1Sch. 4 para. 7(3) in force at 21.12.2018 and Sch. 4 para. 7 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)(e)

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