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

Interpretation of Chapter 4 U.K.

101.—(1) In this Chapter—

[F1 “authorised agreement” has the same meaning as in Chapter 3;]

F2 ...

“conditions for financial support” has the same meaning as in Chapter 1;

“financial support” has the same meaning as in Chapter 1;

“group entity” means a relevant parent undertaking or group subsidiary which has entered into a group financial support agreement authorised by the PRA [F3 or FCA] (“the agreement”);

“intended recipient” means the group institution named in a relevant notice as the recipient of the financial support referred to in the notice;

“notifying group entity” means the group entity which has given a relevant notice;

“relevant competent authority” means a competent authority, other than the consolidating supervisor, which has authorised a group entity;

[F4 “relevant notice” means a notice—

(a)

given by a group entity;

(b)

stating an intention to provide financial support under an authorised agreement; and

(c)

required by rules made by the PRA or FCA under Part 9A of FSMA;]

“UK group entity” means a group entity set up in the United Kingdom.

(2) In this article, for the interpretation of “group entity” and “intended recipient”, the expressions “group subsidiary”, “group financial support agreement”, “group institution” and “relevant parent undertaking” have the meaning given in Chapter 1.

Textual Amendments

F1 Words in art. 101(1) inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 56(2)(a); 2020 c. 1, Sch. 5 para. 1(1)

F2 Words in art. 101(1) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 56(2)(b); 2020 c. 1, Sch. 5 para. 1(1)

F3 Words in art. 101(1) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 56(2)(c); 2020 c. 1, Sch. 5 para. 1(1)

F4 Words in art. 101(1) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 56(2)(d); 2020 c. 1, Sch. 5 para. 1(1)