X1PART ONEGENERAL PROVISIONS

Annotations:
Editorial Information

TITLE IILEVEL OF APPLICATION OF REQUIREMENTS

CHAPTER 1 Application of requirements on an individual basis

Article 6 General principles

1

Institutions shall comply with the obligations laid down in F3Part Two, Part Three and Chapter 2 of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (provisions applicable to all securitisations) on an individual basis.

F11a

By way of derogation from paragraph 1 of this Article, only institutions identified as resolution entities that are also G-SIIs or that are part of a G-SII, and that do not have subsidiaries shall comply with the requirement laid down in Article 92a on an individual basis.

Material subsidiaries of a F2non-UK G-SII shall comply with Article 92b on an individual basis, where they meet all the following conditions:

a

they are not resolution entities;

b

they do not have subsidiaries;

c

they are not the subsidiaries of F5a UK parent institution.

2

No institution which is either a subsidiary F6authorised and supervised in the United Kingdom, or a parent undertaking, and no institution included in the consolidation pursuant to Article 18, shall be required to comply with the obligations laid down in Articles 89, 90 and 91 on an individual basis.

F43

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F44

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F45

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