The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (revoked)

1. Introductory TextNext Match

2. PART 1 GeneralPrevious MatchNext Match

   1. 1. Citation and commencementPrevious MatchNext Match

3. PART 2 Amendment of Primary Legislation made under the European Communities Act 1972Previous MatchNext Match

   1. CHAPTER 1 Amendment of the Financial Services and Markets Act 2000Previous MatchNext Match

      1. 2. Amendment of the Financial Services and Markets Act 2000Previous MatchNext Match

   2. CHAPTER 2 Amendment of the Banking Act 2009Previous MatchNext Match

      1. 3. IntroductionPrevious MatchNext Match

      2. 4. InterpretationPrevious MatchNext Match

      3. 5. Removal of impediments to the exercise of stabilisation powers etc.Previous MatchNext Match

      4. 6. Mandatory write-down, conversion etc.Previous MatchNext Match

      5. 7. In section 6B (mandatory write-down, conversion, etc of capital instruments)...Previous MatchNext Match

      6. 8. In section 6C (mandatory reduction instruments: implementation of requirements of...Previous MatchNext Match

      7. 9. Bail-in: sequence of write-down and conversion of capital instruments and liabilitiesPrevious MatchNext Match

      8. 10. Special bail-in provisionPrevious MatchNext Match

      9. 11. General interpretation of section 48BPrevious MatchNext Match

      10. 12. Pre-conditions for financial assistance: duty of Bank to give informationPrevious MatchNext Match

      11. 13. Cases where mandatory write-down, conversion etc. applies: banking group companiesPrevious MatchNext Match

      12. 14. Groups: sale to commercial purchaser and transfer to bridge bank: holding companiesPrevious MatchNext Match

      13. 15. Groups: transfer to asset management vehicle: holding companiesPrevious MatchNext Match

      14. 16. Groups: bail-in option: holding companiesPrevious MatchNext Match

      15. 17. For the heading for section 81C substitute “ Sections 81AA...Previous MatchNext Match

      16. 18. In section 81C (section 81B or 81ZBA: supplemental) — Previous MatchNext Match

      17. 19. In the heading for section 81CA, after “Section 81BA” insert...Previous MatchNext Match

      18. 20. In section 81CA(1), after “section 81BA” insert “ or section...Previous MatchNext Match

      19. 21. Resolution of banks not regulated by the PRAPrevious MatchNext Match

      20. 22. Resolution of recognised central counterpartiesPrevious MatchNext Match

      21. 23. Recognition of third-country resolution actionsPrevious MatchNext Match

      22. 24. Resolution of UK branches of third-country institutionsPrevious MatchNext Match

      23. 25. Index of defined termsPrevious MatchNext Match

4. PART 3 Amendment of Secondary legislation made under the European Communities Act 1972Previous MatchNext Match

   1. 26. Amendment of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999Previous MatchNext Match

   2. 27. Amendment of the Credit Institutions (Reorganisation and Winding up) Regulations 2004Previous MatchNext Match

   3. 28. Amendment of the Banking Act 2009 (Restriction of Special Bail-in Provisions, etc) Order 2014Previous MatchNext Match

   4. 29. Amendment of the Bank Recovery and Resolution (No.2) Order 2014Previous MatchNext Match

   5. 30. In article 2(1) (a) in the definition of “the capital...Previous MatchNext Match

   6. 31. In article 40, after paragraph (6) insert— Previous MatchNext Match

   7. 32. In article 42(4), after “reasoned” insert “ and substantiated ”....Previous MatchNext Match

   8. 33. In article 48(2)— (a) in the opening words omit “For...Previous MatchNext Match

   9. 34. In article 53, for paragraph (2)(a) substitute— Previous MatchNext Match

   10. 35. In article 61(2), after “take resolution action” insert “ in...Previous MatchNext Match

   11. 36. In article 62— (a) in paragraph (2), at the end...Previous MatchNext Match

   12. 37. In article 64(2)— (a) in the definition of “relevant proposals”—...Previous MatchNext Match

   13. 38. In article 66— (a) in paragraph (3)(a), for “four month”...Previous MatchNext Match

   14. 39. In article 68(2), at the end insert— “response period” means—...Previous MatchNext Match

   15. 40. In article 71(1), for “four months” substitute “ the response...Previous MatchNext Match

   16. 41. In article 72(1), for the words from “within four months”...Previous MatchNext Match

   17. 42. In article 75(2), at the end insert— “response period” means—...Previous MatchNext Match

   18. 43. After article 75, insert— Report on substantive impediments to the...Previous MatchNext Match

   19. 44. In article 78(b), for “four months” substitute “ the response...Previous MatchNext Match

   20. 45. In article 122(1)(a), omit “expressed as a percentage of the...Previous MatchNext Match

   21. 46. In article 123(6), for the words from “criteria” to the...Previous MatchNext Match

   22. 47. In article 125(2)— (a) in the definition of “minimum consolidated...Previous MatchNext Match

   23. 48. In article 126— (a) in paragraph (1) at the end...Previous MatchNext Match

   24. 49. In article 127(1), after “requirement” insert “ for a resolution...Previous MatchNext Match

   25. 50. In article 128(1), in the opening words after “requirement” insert...Previous MatchNext Match

   26. 51. In article 129(1), after “requirement” insert “ for each resolution...Previous MatchNext Match

   27. 52. In article 131(1), after “requirement” insert “ for each resolution...Previous MatchNext Match

   28. 53. In article 135(6)(a), for “Article 45.6 of the recovery and...Previous MatchNext Match

   29. 54. In articles 139(1) and 146(1), omit “expressed as a percentage...Previous MatchNext Match

   30. 55. In article 142(6)(a), after “recovery and resolution directive” insert “...Previous MatchNext Match

   31. 56. In article 195(a), after “Union subsidiary” insert “ or a...Previous MatchNext Match

   32. 57. In article 196— (a) in paragraph (1)(a), after “Union subsidiary”...Previous MatchNext Match

   33. 58. In Schedule 1, in paragraph 4(2), in paragraphs (q) and...Previous MatchNext Match

   34. 59. In Schedule 2, in paragraph 2— (a) in sub-paragraph (a),...Previous MatchNext Match

   35. 60. In Schedule 4, for paragraph 23 substitute— Previous MatchNext Match

5. PART 4 Amendment of legislation made under the European Union (Withdrawal) Act 2018Previous MatchNext Match

   1. CHAPTER 1 Amendment of Primary LegislationPrevious MatchNext Match

      1. 61. Amendment of the Banking Act 2009Previous MatchNext Match

      2. 62. In section 3— (a) in the definition of “resolution entity”—...Previous MatchNext Match

      3. 63. In section 48B (special bail-in provision), in subsection (8)(ea), omit...Previous MatchNext Match

      4. 64. In section 48D (general interpretation of section 48B), in subsection...Previous MatchNext Match

      5. 65. In section 81ZZBA (sale to commercial purchaser and transfer to...Previous MatchNext Match

      6. 66. In section 81ZZBB (assessment of conditions for section 81ZZBA)— Previous MatchNext Match

      7. 67. In section 81ZBB (transfer to asset management vehicle: supplemental powers...Previous MatchNext Match

      8. 68. In section 81ZBC (assessment of conditions for section 81ZBB)— Previous MatchNext Match

      9. 69. In section 81BB (bail-in option: supplemental powers in relation to...Previous MatchNext Match

      10. 70. In section 81BC (assessment of conditions for section 81BB)— Previous MatchNext Match

      11. 71. In section 89A (application to investment firms), in the Table...Previous MatchNext Match

      12. 72. In section 89JA (resolution of UK branches of third-country institutions),...Previous MatchNext Match

   2. CHAPTER 2 Amendment of Secondary LegislationPrevious MatchNext Match

      1. 73. Amendment of the Credit Institutions (Reorganisation and Winding up) Regulations 2004Previous MatchNext Match

      2. 74. Amendment of the Bank Recovery and Resolution (No.2) Order 2014Previous MatchNext Match

   3. CHAPTER 3 Amendment of EU Exit LegislationPrevious MatchNext Match

      1. 75. Amendment of the Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018Previous MatchNext Match

      2. 76. Amendment of Schedule 1Previous MatchNext Match

      3. 77. Amendment of Schedule 3Previous MatchNext Match

      4. 78. Amendment of Schedule 4Previous MatchNext Match

      5. 79. Amendment of the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019Previous MatchNext Match

   4. CHAPTER 4 Revocation of technical standards under the Recovery and Resolution DirectivePrevious MatchNext Match

      1. 80. Revocation of technical standards under the Recovery and Resolution DirectivePrevious MatchNext Match

6. PART 5 Other Provision made under the European Communities Act 1972Previous MatchNext Match

   1. CHAPTER 1 Suspension of obligations, interests and rightsPrevious MatchNext Match

      1. 81. InterpretationPrevious MatchNext Match

      2. 82. The exercise of any of the powers in this Chapter...Previous MatchNext Match

      3. 83. Suspension of obligations prior to exercise of stabilisation powersPrevious MatchNext Match

      4. 84. Suspension of security interests prior to exercise of stabilisation powersPrevious MatchNext Match

      5. 85. Suspension of termination rights prior to exercise of stabilisation powersPrevious MatchNext Match

      6. 86. Suspension prior to exercise of stabilisation powers: procedurePrevious MatchNext Match

      7. 87. Restriction on subsequent suspensionPrevious MatchNext Match

      8. 88. GroupsPrevious MatchNext Match

      9. 89. Suspension of obligations when Bank is exercising a stabilisation powerPrevious MatchNext Match

      10. 90. Modification of Part for banks not regulated by the PRAPrevious MatchNext Match

   2. CHAPTER 2 Power to prohibit distributionsPrevious MatchNext Match

      1. 91. Power to prohibit distributionsPrevious MatchNext Match

   3. CHAPTER 3 Transfer of losses or capital between members of a groupPrevious MatchNext Match

      1. 92. Transfer of losses or capital between members of a groupPrevious MatchNext Match

   4. CHAPTER 4 Contractual recognition of bail-inPrevious MatchNext Match

      1. 93. InterpretationPrevious MatchNext Match

      2. 94. Requirement to include a contractual term recognising bail-inPrevious MatchNext Match

      3. 95. Undertakings required to include a contractual termPrevious MatchNext Match

      4. 96. Contracts for which a contractual term is requiredPrevious MatchNext Match

      5. 97. Content of required termPrevious MatchNext Match

      6. 98. Evidence to demonstrate compliance with regulation 94 obligationPrevious MatchNext Match

      7. 99. ExclusionsPrevious MatchNext Match

      8. 100. Determination of impracticalityPrevious MatchNext Match

      9. 101. Suspension of the regulation 94 obligationPrevious MatchNext Match

      10. 102. Assessment of the determination of impracticabilityPrevious MatchNext Match

      11. 103. Determination that term is not impracticablePrevious MatchNext Match

      12. 104. Assessment of resolvabilityPrevious MatchNext Match

      13. 105. Exercise of power to remove impediments to resolvabilityPrevious MatchNext Match

      14. 106. Exclusion of liabilities from the minimum requirement for own funds and eligible liabilitiesPrevious MatchNext Match

      15. 107. Exercise of resolution powers where contractual term not includedPrevious MatchNext Match

   5. CHAPTER 5 Amendments to priority of debts in insolvencyPrevious MatchNext Match

      1. 108. Transitional provisionPrevious MatchNext Match

      2. Amendment of the Insolvency Act 1986Previous MatchNext Match

         1. 109. IntroductionPrevious MatchNext Match

         2. 110. Non-preferential debts in company voluntary arrangementsPrevious MatchNext Match

         3. 111. Non-preferential debts in winding up of companiesPrevious MatchNext Match

         4. 112. Non-preferential debts in bankruptcy proceedingsPrevious MatchNext Match

         5. 113. InterpretationPrevious MatchNext Match

         6. 114. AdministrationPrevious MatchNext Match

      3. Amendment of the Insolvency (Northern Ireland) Order 1989Previous MatchNext Match

         1. 115. IntroductionPrevious MatchNext Match

         2. 116. Non-preferential debts in company voluntary arrangementsPrevious MatchNext Match

         3. 117. Non-preferential debts in winding up of companiesPrevious MatchNext Match

         4. 118. Non-preferential debts in bankruptcy proceedingsPrevious MatchNext Match

         5. 119. InterpretationPrevious MatchNext Match

         6. 120. AdministrationPrevious MatchNext Match

      4. Further Amendment of Insolvency LegislationPrevious MatchNext Match

         1. 121. Amendments of the Insolvent Partnerships Order 1994Previous MatchNext Match

         2. 122. Amendments of the Insolvent Partnerships Order (Northern Ireland) 1995Previous MatchNext Match

         3. 123. Housing Act 1996Previous MatchNext Match

         4. 124. Housing and Regeneration Act 2008Previous MatchNext Match

         5. 125. Housing (Scotland) Act 2010Previous MatchNext Match

         6. 126. Bankruptcy (Scotland) Act 2016Previous MatchNext Match

         7. 127. Section 129 (priority in distribution) applies as if it were...Previous MatchNext Match

         8. 128. Section 129A (section 129: interpretation) applies as if for subsection...Previous MatchNext Match

7. Signature Previous MatchNext Match

8. Explanatory Note Previous Match