The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 No. 1350

PART 3 Amendment of Secondary legislation made under the European Communities Act 1972

Amendment of the Banking Act 2009 (Restriction of Special Bail-in Provisions, etc) Order 2014

28.—(1) The Banking Act 2009 (Restriction of Special Bail-in Provision, etc) Order 2014(1) is amended in accordance with this regulation.

(2) In article 2(1)—

(a) after the definition of “the Act” insert—

““bail-in liability has the meaning given in section 2(1) of the Banking Act 2009”;

(b) omit the definition of “eligible liabilities”.

(3) In article 4(2) for “an eligible liability” substitute “a bail-in liability”.

(1)

S.I. 2014/3350, amended by S.I. 2016/1239 and S.I. 2018/1394.