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The Banking Coordination (Second Council Directive) Regulations 1992
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22. Section 66 of the Act (restriction on dealing with assets) shall have effect as if—
(a)the reference in subsection (1) to an authorised person included a reference to a European institution carrying on home-regulated investment business in the United Kingdom; and
(b)it included provision that a prohibition may not be imposed under that section in relation to a European institution unless the relevant supervisory authority in the institution’s home State has requested that measures be taken for the purpose of ensuring that the institution has sufficient assets available to cover risks arising from open positions on financial markets in the United Kingdom.
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