PART 2Amendment of secondary legislation
CHAPTER 1Amendment of secondary legislation: European Union (Withdrawal) Act 2018
Amendment of the Exit Regulations
3.—(1) The Exit Regulations are amended as follows.
(2) In regulation 214 (Article 502 to 519 (reports and reviews)) and in the heading to that regulation, for “502 to 519” substitute “501c to 519b”.
(3) Omit the following provisions—
(a)regulation 62 (Article 1(scope));
(b)regulation 63 (Article 2 (supervisory powers));
(c)in regulation 64 (Article 4(1) (definitions))—
(i)paragraph (7);
(ii)paragraph (20);
(iii)paragraph (23);
(iv)paragraph (51);
(d)regulation 73 (Article 13 (application of disclosure requirements on a consolidated basis));
(e)regulation 74 (Article 14 (application of requirements of Part Five on a consolidated basis));
(f)regulation 77 (Article 18 (methods for prudential consolidation));
(g)regulation 82 (Article 26 (Common Equity Tier 1 items));
(h)regulation 94(2) (Article 78 (supervisory permission for reducing own funds));
(i)regulation 211 (Article 497 (own funds requirements for exposures to CCPs));
(j)regulation 221(5) (specific transfer of powers to the Treasury);
(k)in regulation 222 (European Supervisory Authorities’ functions in the Capital Requirements Regulation transferred to both the FCA and PRA), in Table 1—
(i)the first row, which addresses Article 18(7) of the Capital Requirements Regulation;
(ii)the 22nd row, which addresses Article 124(4) of the Capital Requirements Regulation;
(iii)the 54th row, which addresses Article 410(2) of the Capital Requirements Regulation;
(iv)the 55th row, which addresses Article 410(3) of the Capital Requirements Regulation;
(v)the 56th row, which addresses Article 430(2) of the Capital Requirements Regulation;
(l)in regulation 223 (European Supervisory Authorities’ functions in the Capital Requirements Regulation transferred to only the PRA), in Table 2, the fourth row, which addresses Article 419(5) of the Capital Requirements Regulation.
CHAPTER 2Amendment of secondary legislation: European Communities Act 1972
Amendment of the 2008 Regulations
4. In regulation 1 of the 2008 Regulations (citation, commencement and interpretation), in paragraph (4), for “Capital Requirements (Amendment) (EU Exit) Regulations 2018” substitute “Capital Requirements (Amendment) (EU Exit) Regulations 2019”.
Amendment of the 2013 Regulations
5. In regulation 2 of the 2013 Regulations (interpretation), in paragraph (3) for “Capital Requirements (Amendment) (EU Exit) Regulations 2018” substitute “Capital Requirements (Amendment) (EU Exit) Regulations 2019”.
Amendment of the 2013 Reporting Regulations
6. In regulation 1 of the 2013 Reporting Regulations (citation, commencement and interpretation), in paragraph (3), for “Capital Requirements (Amendment) (EU Exit) Regulations 2018” substitute “Capital Requirements (Amendment) (EU Exit) Regulations 2019”.
Amendment of the 2014 Regulations
7. In regulation 2 of the 2014 Regulations (interpretation), in paragraph (2A), for “Capital Requirements (Amendment) (EU Exit) Regulations 2018” substitute “Capital Requirements (Amendment) (EU Exit) Regulations 2019”.