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

Modified application of legislation on cross-border mergers

218.—(1) This article applies for the purpose of ensuring that Directive 2005/56/EC of the European Parliament and of the Council of 26th October 2005 on cross border mergers of limited liability companies(1) does not apply in relation to a company under resolution.

(2) The Companies (Cross-Border Mergers) Regulations 2007(2) have effect as if after regulation 3 there were inserted—

“Application to company subject to special resolution

3A.   These Regulations do not apply in relation to a company which is a company under resolution for the purposes of Part 17 of the Bank Recovery and Resolution (No. 2) Order 2014.”.

(3) The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009(3) have effect as if, in regulation 46 (cross-border merger)—

(a) in paragraph (1) for “following modifications” there were substituted “the modifications set out in paragraph (2)”; and

(b) after paragraph (1) there were inserted—

“(1A) These Regulations do not apply in relation to a LLP which, if it were a UK-registered company (within the meaning given in section 1158 of the Companies 2006), would be a company under resolution for the purposes of Part 17 of the Bank Recovery and Resolution (No. 2) Order 2014.”.

(1)

OJ No. L 310, 25.11.2005, p. 1.

(2)

S.I. 2007/2974. There are amendments, but none is relevant.

(3)

S.I. 2009/1804. There are amendments, but none is relevant.