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

General interpretation of section 48B

11.  In section 48D (general interpretation of section 48B)(1), in subsection (1)—

(a) after the definition of “designated settlement system” insert—

““EEA central counterparty” has the meaning given in section 285 of the Financial Services and Markets Act 2000;”;

(b) after the definition of “investment firm” insert—

““normal insolvency proceedings” has the meaning given in section 12AA(2);”;

(c) after the definition of “pension scheme” insert—

““recognised central counterparty” has the meaning given in section 285 of the Financial Services and Markets Act 2000;”;

(d) after the definition of “secured” insert—

““third country central counterparty” has the meaning given in section 285 of the Financial Services and Markets Act 2000;”.

(1)

Section 48D was inserted by paragraph 4 of Schedule 2 of the Financial Services (Banking Reform) Act 2013 (c. 33).