The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 No. 1394

SCHEDULE 3 U.K. Amendments of the Bank Recovery and Resolution (No.2) Order 2014

Procedural obligations where an undertaking is failing or likely to fail U.K.

103.—(1) Article 181 (interpretation of Part 14) is amended as follows.

(2) After “In this Part—” insert—

““crisis prevention measure” has the meaning given in section 48Z(1) of the Banking Act 2009;”.

(3) After the definition of “the regulator” insert—

““supervisory measure” means a power of the FCA or PRA by or under legislation upon which the United Kingdom relied immediately before [F1 IP completion day] to meet its obligations with respect to Article 104.1 of the capital requirements directive;”.

(4) In the definition of “undertaking” for “Article 111 of the capital requirements directive” substitute “ Part 6 of the Capital Requirements Regulations 2013 ”.

Textual Amendments

F1 Words in Sch. 3 para. 103(3) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 10(c)(vi)

Commencement Information

I1 Sch. 3 para. 103 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)