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The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018
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The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018, Paragraph 7 is up to date with all changes known to be in force on or before 14 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 4 Paragraph 7:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
The Banking Act 2009 (Restriction of Special Bail-in Provision, etc.) Order 2014U.K.
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7.—(1) The Banking Act 2009 (Restriction of Special Bail-in Provision, etc.) Order 2014 is amended as follows.
(2) In article 2 (interpretation)—
(a)in paragraph (1)—
F1(i). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(ii)in the definition of “transferable securities” for the words from “4.1(44)” to “instruments” substitute, “2.1(24) of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012”;
(b)in paragraph (2) for “Order 2016 comes” substitute “ (Amendment) (EU Exit) Regulations 2018 come ”.
(3) In article 5 (set-off and netting: meaning of “derivative” etc.), in paragraph (1), at the end insert “ as it [F2forms part of retained EU law]”.
(4) In article 8 (review), omit paragraph (2).
Textual Amendments
F1Sch. 4 para. 7(2)(a)(i) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 78
F2Words in Sch. 4 para. 7(3) substituted (31.12.2020 immediately before IP completiton day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), reg. 1(4), Sch. para. 1(1)(2)(k)(iv)
Commencement Information
I1Sch. 4 para. 7(3) in force at 21.12.2018 and Sch. 4 para. 7 in force otherwise at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)(3)(e)
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