http://www.legislation.gov.uk/ukpga/2009/1/part/1/crossheading/holding-companies/2020-12-31Banking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2024-05-18Expert Participation2020-12-31 Part 1Special Resolution RegimeChapter 3 <Addition ChangeId="key-66128f0e1311ca44b09df6cb3e25b25a-1582893808011" CommentaryRef="key-66128f0e1311ca44b09df6cb3e25b25a"> Special resolution action</Addition> <Emphasis><Substitution ChangeId="key-1662d027e9adcd95b20c8cc2c33a0290-1582209621726" CommentaryRef="key-1662d027e9adcd95b20c8cc2c33a0290">Groups</Substitution></Emphasis><Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">Cases where mandatory write-down, conversion </Addition><Abbreviation Expansion="Et cetera" xml:lang="la"><Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">etc</Addition></Abbreviation><Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> applies: banking group companies</Addition>81AA1Section 6B (mandatory write-down, conversion, etc. of capital instruments and relevant internal liabilities) applies in relation to a banking group company in the cases set out in subsections (2), (4) , (8) and (8A).2Case 1 is where—athe conditions imposed by section 81B or 81ZBA on the exercise of a stabilisation power in accordance with section 11(2), 12(2) or 12ZA(3) are met in respect of the banking group company,bthe Bank of England has decided to exercise the stabilisation power,cif the banking group company—iis a financial institution which is a subsidiary of an institution (within the meaning of Article 4.1A of the capital requirements regulation) (“the parent institution”), butiiis not an entity within subsection (2A),the requirements of subsection (3) are met, anddsection 12AA (mandatory write-down etc in bail-in cases) does not apply in relation to the banking group company by virtue of the exercise of a power under section 81BA (bail-in: banking group company).2AThe entities covered by subsection (2)(c)(ii) are—aan entity of any of the following kinds which is established in the United Kingdom—ia financial holding company;iia mixed financial holding company;iiia mixed-activity holding company;ba UK parent financial holding company or a UK parent mixed financial holding company,and expressions used in this subsection have the same meaning as in the capital requirements regulation.3For the purposes of subsection (2)(c)—athe first requirement is that—ithe appropriate authority is satisfied that Condition 1 in section 7 is met in relation to the banking group company, andiithe Bank of England is satisfied that Conditions 2, 3 and 4 of that section are met in relation to that company;bthe second requirement is that—iwhere the parent institution is a bank, the PRA is satisfied that Condition 1 in section 7 is met, and the Bank of England is satisfied that Conditions 2, 3 and 4 in that section are met in relation to the parent institution,ii... andiiiwhere the parent institution is a third-country institution, subsection (7) applies in relation to the banking group company by reason of that third country institution.4Case 2 is where—athe appropriate authority is satisfied that Condition 1 in section 7 is met in respect of the banking group company,bthe Bank of England is satisfied that—i(ignoring section 6B) Condition 2 in section 7 is met, andiithat Condition will continue to be met unless the action required by section 6B is taken in respect of the banking group company, andcone of subsections (5) ... or (7) apply in relation to the banking group company.5This subsection applies in relation to the banking group company if—athe PRA is satisfied that Condition 1 in section 7 is met in respect of a bank to which section 81D(1)(a) applies, andbthe Bank of England is satisfied that (ignoring section 6B) Condition 2 in section 7 is met in relation to that bank.6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7This subsection applies in relation to the banking group company if the relevant third-country authority has determined that any conditions required by the law of the third country to be met before—aany power for the relevant third country authority to write down or convert capital instruments or relevant internal liabilities provided for under the law of that third country may be exercised, orbthird-country resolution action may be taken,are met in relation to a third-country institution to which section 81D(1)(a) applies.8Case 3 is where—aextraordinary public financial support is required by the banking group company other than in circumstances where subsection (5E) of section 7 applies by virtue of paragraph (c) of that subsection, andbthe Bank of England is satisfied ... that, in order for a bank ... which is a member of the same group as the banking group company to fulfil its own funds requirements, relevant capital instruments or relevant internal liabilities of the banking group company need to be written down or converted into Common Equity Tier 1 instruments (or both).8ACase 4 is where—athe banking group company is (or, but for the exercise of a stabilisation power, would be) a parent undertaking of a bank from which it has purchased (directly or indirectly) relevant capital instruments or relevant internal liabilities,bthe banking group company is not a resolution entity,cthe relevant capital instruments or relevant internal liabilities of the banking group company have been purchased (directly or indirectly) by a resolution entity in the same resolution group as the banking group company,dany of the cases provided for in section 6A applies to the bank referred to in paragraph (a) above, andenone of cases 1 to 3 in this section applies to the banking group company.9For the purposes of determining if the matters set out in subsections (3) to (7) are satisfied, the FCA, PRA, Bank of England ... or relevant third-country authority (as the case may be) may ignore any transfer of losses or capital made between members of the group.10For the purposes of subsections (3)(a) and (b), (4), (5) and (8)—areferences in section 7 to the bank are to be read—iin the case of subsections (3)(a) and (b), (4) and (5), as references to the banking group company, andiiin the case of subsection (8), as references to the banking group company or the parent institution (as the case may be), andbsection 7(5C)(a) is to be ignored in determining whether Condition 1 in that section is met in relation to the banking group company where that company is not a UK authorised person.11For the purposes of subsections (3), (4) and (5), the “appropriate authority” means—ain the case of a banking group company which is a PRA-authorised person, the PRA;bin the case of a banking group company which is a UK authorised person but not a PRA-authorised person, the FCA;cin the case of a banking group company which is not an UK authorised person—i. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .ii. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .iiiif the parent undertaking of the group is not a UK authorised person and there is a PRA-authorised person in the group, the PRA; andivin all other cases, the Bank of England.12Where the PRA is the “appropriate authority” under subsection (11) in relation to a banking group company in the same group as a UK authorised person which is not a PRA-authorised person, the PRA must consult the FCA before making any decision as to whether the conditions referred to in subsection (3)(a), (4)(a) or (5)(a) (the “relevant conditions”) are satisfied.13Where the FCA is the “appropriate authority” under subsection (11) in relation to a banking group company in the same group as a PRA-authorised person, the FCA must consult the PRA before making any decision as to whether the relevant conditions are satisfied.14For the purposes of this section—............“financial institution” has the same meaning as in the capital requirements regulation; “parent undertaking” has the meaning given in Article 4.1(15)(a) of the capital requirements regulation; “PRA-authorised person” has the meaning given in section 2B(5) of the Financial Services and Markets Act 2000;“relevant third-country authority” means an authority in a country or territory other than the United Kingdom which has functions corresponding to those of the Bank of England, the FCA or the PRA, in relation to bank recovery and resolution;“third-country institution” has the meaning given in section 89H(7);“third-country resolution action” has the meaning given in section 89H(7);UK authorised person” has the same meaning as in section 105(8) of the Financial Services and Markets Act 2000.<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Sale to commercial purchaser and transfer to bridge bank</Addition>81B1The Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 11(2) or 12(2) if the following conditions are met.2Condition 1 is that—athe PRA is satisfied that Condition 1 of the general conditions is met in respect of a bank in the same group and the Bank of England is satisfied that Conditions 2, 3 and 4 of the general conditions are met in respect of that bank, orb. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .ca relevant third-country authority of a third-country institution in the same group is satisfied that any conditions required by the law of the third country to be met before third-country resolution action may be taken are met in relation to that third-country institution.2AFor the purposes of determining if a requirement of Condition 1 is met, the PRA, Bank of England ... or relevant third-country authority (as the case may be) may ignore any transfer of losses or capital made between members of the group.3Condition 2 (which does not apply in a financial assistance case) is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the public interest in the advancement of one or more of the special resolution objectives. 4Condition 3 (which applies only in a financial assistance case) is that—athe Treasury have recommended the Bank of England to exercise a stabilisation power on the grounds that it is necessary to protect the public interest, andbin the Bank's opinion, exercise of the power in respect of the banking group company is an appropriate way to provide that protection.5Condition 4 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.6Before determining whether Condition 2 or 3 (as appropriate) is met, the Bank of England must consult—athe Treasury,bthe PRA, andcthe FCA.7In exercising a stabilisation power in reliance on this section the Bank of England must have regard to the need to minimise the effect of the exercise of the power on other undertakings in the same group.8In this section “financial assistance case” means a case in which the Treasury notify the Bank of England that they have provided financial assistance in respect of a bank in the same group for the purpose of resolving or reducing a serious threat to the stability of the financial systems of the United Kingdom.9In this section—......“the general conditions” means the general conditions for the exercise of a stabilisation power set out in section 7;“relevant third-country authority” has the meaning given by section 81AA(14);“third-country institution” has the meaning given by section 89H(7);“third-country resolution action” has the meaning given by section 89H(7).<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Sale to commercial purchaser and transfer to bridge bank: supplemental powers in relation to certain holding companies</Addition></Addition>81ZZBA1Without prejudice to the operation of section 81B, the Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 11(2) or 12(2) if the following conditions are met.2Condition 1 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.3Condition 2 is that the banking group company is an entity within subsection (2A) of section 81AA.4Condition 3 is that the PRA is satisfied that the banking group company is failing or likely to fail.5Condition 4 is that the Bank of England is satisfied that, having regard to timing and other relevant circumstances, it is not reasonably likely that (ignoring the stabilisation powers) action will be taken by or in respect of the banking group company that will result in Condition 3 ceasing to be met.6Condition 5 is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the public interest in the advancement of one or more of the special resolution objectives.7Condition 6 is that the Bank of England is satisfied that one or more of the special resolution objectives would not be met to the same extent by the winding up of the banking group company.8Condition 7 (which applies only in a financial assistance case) is that—athe Treasury have recommended the Bank of England to exercise a stabilisation power on the grounds that it is necessary to protect the public interest, andbin the Bank of England’s opinion, exercise of the power in respect of the banking group company is an appropriate way to provide that protection.9In exercising a stabilisation power in reliance on this section, the Bank of England must have regard to the need to minimise the effect of the exercise of the power on other undertakings in the same group.10In this section “financial assistance case” has the meaning given in section 81B(8).<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Assessment of conditions for section 81ZZBA</Addition></Addition>81ZZBB1This section applies for the purposes of section 81ZZBA.2The PRA must treat Condition 3 as met if satisfied that it would be met but for financial assistance provided by—athe Treasury, orbthe Bank of England,disregarding ordinary market assistance offered by the Bank of England on its usual terms.3The Bank of England must treat Condition 4 as met if satisfied that it would be met but for financial assistance of the kind mentioned in subsection (2).4For the purposes of Condition 3, a banking group company is failing or likely to fail if—ait is contravening or likely to contravene a regulatory requirement where that contravention is serious in nature or directly related to a deterioration in the financial situation of the banking group company which threatens the viability of—ithe banking group company, oriianother undertaking in the same resolution group,bit is failing, or is likely to fail, to meet the approval conditions set out in section 192R(3) to (6) of the Financial Services and Markets Act 2000 in circumstances where that failure—iwould justify the taking of measures in relation to the company by the PRA under section 192T(1) of that Act, andiiis serious in nature,cthe value of the assets of the banking group company is less than the amount of its liabilities,dthe banking group company is unable to pay its debts or other liabilities as they fall due,eparagraph (c) or (d) (or both) will, in the near future, apply to the banking group company, orfextraordinary public financial support is required in respect of the banking group company and subsection (5) does not apply to it.5This subsection applies where, in order to remedy a serious disturbance in the economy of the United Kingdom and preserve financial stability, the extraordinary financial support takes any of the following forms—aa State guarantee to back liquidity facilities provided by the Bank of England,ba State guarantee of newly issued liabilities,can injection of own funds, or purchase of capital instruments or liabilities, at prices and on terms that do not confer an advantage upon the banking group company, where none of the circumstances referred to in subsection (4)(a), (b), (c), (d) or (e) are present at the time the public support is granted and none of Cases 1 to 4 in section 6A apply.6Before determining that Condition 3 is met, the PRA must consult the Bank of England.7Before determining whether or not Conditions 4 and (where applicable) 7 are met, the Bank of England must consult—athe Treasury,bthe PRA, andcthe FCA.8Before determining that Conditions 5 and 6 are met the Bank of England must consult—athe Treasury,bthe PRA, andcthe FCA.9The special resolution objectives are not relevant to Conditions 3 and 4.10In this section “regulatory requirement” means a requirement imposed—aby or under the Financial Services and Markets Act 2000,bby or under the capital requirements regulation including any retained EU law that was originally made under Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms,cby any enactment which was relied on by the United Kingdom immediately before IP completion day to implement the capital requirements directive and its implementing measures or any retained EU law originally made under that directive, ordby the Bank of England under this Act,and for the purposes of this definition, “capital requirements directive” means Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC.<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Transfer to asset management vehicle</Addition></Addition>81ZBA1The Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 12ZA(3) if the following conditions are met.2Condition 1 is that—athe PRA is satisfied that Condition 1 of the general conditions is met in respect of a bank in the same group and the Bank of England is satisfied that Conditions 2, 3 and 4 of the general conditions are met in respect of that bank, orb. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .ca relevant third-country authority of a third-country institution in the same group is satisfied that any conditions required by the law of the third country to be met before third-country resolution action may be taken are met in relation to that third-country institution.2AFor the purposes of determining if a requirement of Condition 1 is met, the PRA, Bank of England ... or relevant third-country authority (as the case may be) may ignore any transfer of losses or capital made between members of the group.3Condition 2 is that the power is exercised in connection with the exercise of one or more stabilisation powers in respect of the banking group company otherwise than for the purposes of the third stabilisation option.4Condition 3 (which does not apply in a financial assistance case) is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary having regard to the public interest in the advancement of one or more of the special resolution objectives.5Condition 4 (which applies only in a financial assistance case) is that—athe Treasury have recommended the Bank of England to exercise a stabilisation power on the grounds that it is necessary to protect the public interest, andbin the Bank of England’s opinion, exercise of the power in respect of the banking group company is an appropriate way to provide that protection.6Condition 5 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.7Condition 6 is that the Bank of England is satisfied that—athe situation of the market for the assets which it is proposed to transfer by the exercise of the stabilisation power is of such a nature that the liquidation of those assets under normal insolvency proceedings could have an adverse effect on one or more financial markets,bthe transfer is necessary to ensure the proper functioning of the banking group company from which the transfer is to be made, orcthe transfer is necessary to maximise the proceeds available for distribution.8Before determining whether Conditions 2 and 5 and Condition 3 or 4 (as appropriate) are met, and if so how to react, the Bank of England must consult—athe PRA,bthe FCA, andcthe Treasury.9For the purposes of this section—“financial assistance case” has the meaning given by section 81B(8);...and the definitions in section 81B(9) apply.<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Transfer to asset management vehicle: supplemental powers in relation to certain holding companies</Addition></Addition>81ZBB1Without prejudice to the operation of section 81ZBA, the Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 12ZA(3) if the following conditions are met.2Condition 1 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.3Condition 2 is that the banking group company is an entity within subsection (2A) of section 81AA.4Condition 3 is that the PRA is satisfied that the banking group company is failing or likely to fail.5Condition 4 is that the Bank of England is satisfied that, having regard to timing and other relevant circumstances, it is not reasonably likely that (ignoring the stabilisation powers) action will be taken by or in respect of the banking group company that will result in Condition 3 ceasing to be met.6Condition 5 is that the power is exercised in connection with the exercise of one or more stabilisation powers in respect of the banking group company otherwise than for the purposes of the third stabilisation option.7Condition 6 is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the public interest in the advancement of one or more of the special resolution objectives.8Condition 7 is that the Bank of England is satisfied that one or more of the special resolution objectives would not be met to the same extent by the winding up of the banking group company.9Condition 8 (which applies only in a financial assistance case) is that—athe Treasury have recommended the Bank of England to exercise a stabilisation power on the grounds that it is necessary to protect the public interest, andbin the Bank of England’s opinion, exercise of the power in respect of the banking group company is an appropriate way to provide that protection.10Condition 9 is that the Bank of England is satisfied that—athe situation of the market for the assets which it is proposed to transfer by the exercise of the stabilisation power is of such a nature that the liquidation of those assets under normal insolvency proceedings could have an adverse effect on one or more financial markets,bthe transfer is necessary to ensure the proper functioning of the banking group company from which the transfer is to be made, orcthe transfer is necessary to maximise the proceeds available for distribution.11In this section—“financial assistance case” has the meaning given in section 81B(8); ......<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Assessment of conditions for section 81ZBB</Addition></Addition>81ZBC1This section applies for the purposes of section 81ZBB.2The PRA must treat Condition 3 as met if satisfied that it would be met but for financial assistance provided by—athe Treasury, orbthe Bank of England,disregarding ordinary market assistance offered by the Bank of England on its usual terms.3The Bank of England must treat Condition 4 as met if satisfied that it would be met but for financial assistance of the kind mentioned in subsection (2).4For the purposes of Condition 3, a banking group company is failing or likely to fail if—ait is contravening or likely to contravene a regulatory requirement where that contravention is serious in nature or directly related to a deterioration in the financial situation of the banking group company which threatens the viability of—ithe banking group company, oriianother undertaking in the same resolution group,bit is failing, or is likely to fail, to meet the approval conditions set out in section 192R(3) to (6) of the Financial Services and Markets Act 2000 in circumstances where that failure—iwould justify the taking of measures in relation to the company by the PRA under section 192T(1) of that Act, andiiis serious in nature,cthe value of the assets of the banking group company is less than the amount of its liabilities,dthe banking group company is unable to pay its debts or other liabilities as they fall due,eparagraph (c) or (d) (or both) will, in the near future, apply to the banking group company, orfextraordinary public financial support is required in respect of the banking group company and subsection (5) does not apply to it.5This subsection applies where, in order to remedy a serious disturbance in the economy of the United Kingdom and preserve financial stability, the extraordinary financial support takes any of the following forms—aa State guarantee to back liquidity facilities provided by the Bank of England,ba State guarantee of newly issued liabilities,can injection of own funds, or purchase of capital instruments, at prices and on terms that do not confer an advantage upon the banking group company, where none of the circumstances referred to in subsection (4)(a), (b), (c), (d) or (e) are present at the time the public support is granted and none of Cases 1 to 4 in section 6A apply.6Before determining that Condition 3 is met, the PRA must consult the Bank of England.7Before determining whether or not Conditions 4, 5 and (where applicable) 8 are met, the Bank of England must consult—athe Treasury,bthe PRA, andcthe FCA.8 Before determining that Conditions 6 and 7 are met the Bank of England must consult—athe Treasury,bthe PRA, andcthe FCA.9The special resolution objectives are not relevant to Conditions 3 and 4.10In this section “regulatory requirement” means a requirement imposed—aby or under the Financial Services and Markets Act 2000,bby or under the capital requirements regulation including any retained EU law that was originally made under Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms,cby any enactment which was relied on by the United Kingdom immediately before IP completion day to implement the capital requirements directive and its implementing measures or any retained EU law originally made under that directive, ordby the Bank of England under this Act,and for the purposes of this definition, “capital requirements directive” means Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC.<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">Bail-in option</Addition></Addition>81BA1The Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 12A(2) if the following conditions are met.2Condition 1 is that either—athe PRA is satisfied that Condition 1 of the general conditions is met in respect of a bank in the same group and the Bank of England is satisfied that Conditions 2, 3 and 4 of the general conditions are met in respect of that bank, orb. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .ca relevant third-country authority of a third-country institution in the same group is satisfied that any conditions required by the law of the third country to be met before third-country resolution action may be taken are met in relation to that third-country institution.2AFor the purposes of determining if a requirement of Condition 1 is met, the PRA, Bank of England ... or relevant third-country authority (as the case may be) may ignore any transfer of losses or capital made between members of the group.3Condition 2 is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the public interest in the advancement of one or more of the special resolution objectives. 4Condition 3 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.5Before determining whether Condition 2 is met, and if so how to react, the Bank of England must consult—athe Treasury,bthe PRA, andcthe FCA.6In exercising a stabilisation power in reliance on this section the Bank of England must have regard to the need to minimise the effect of the exercise of the power on other undertakings in the same group.7The definitions in section 81B(9) apply for the purposes of this section.<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Bail-in option: supplemental powers in relation to certain holding companies</Addition></Addition>81BB1Without prejudice to the operation of section 81BA, the Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 12A(2) if the following conditions are met.2Condition 1 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.3Condition 2 is that the banking group company is an entity within subsection (2A) of section 81AA.4Condition 3 is that the PRA is satisfied that the banking group company is failing or likely to fail.5Condition 4 is that the Bank of England is satisfied that, having regard to timing and other relevant circumstances, it is not reasonably likely that (ignoring the stabilisation powers) action will be taken by or in respect of the banking group company that will result in Condition 3 ceasing to be met.6Condition 5 is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the public interest in the advancement of one or more of the special resolution objectives.7Condition 6 is that the Bank of England is satisfied that one or more of the special resolution objectives would not be met to the same extent by the winding up of the banking group company.8In exercising a stabilisation power in reliance on this section, the Bank of England must have regard to the need to minimise the effect of the exercise of the power on other undertakings in the same group.<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Assessment of conditions for section 81BB</Addition></Addition>81BC1This section applies for the purposes of section 81BB.2The PRA must treat Condition 3 as met if satisfied that it would be met but for financial assistance provided by—athe Treasury, orbthe Bank of England,disregarding ordinary market assistance offered by the Bank of England on its usual terms.3The Bank of England must treat Condition 4 as met if satisfied that it would be met but for financial assistance of the kind mentioned in subsection (2).4For the purposes of Condition 3, a banking group company is failing or likely to fail if—ait is contravening or likely to contravene a regulatory requirement where that contravention is serious in nature or directly related to a deterioration in the financial situation of the banking group company which threatens the viability of—ithe banking group company, oriianother undertaking in the same resolution group,bit is failing, or is likely to fail, to satisfy the approval conditions set out in section 192R(3) to (6) of the Financial Services and Markets Act 2000 in circumstances where that failure—iwould justify the taking of measures in relation to the company by the PRA under section 192T(1) of that Act, andiiis serious in nature,cthe value of the assets of the banking group company is less than the amount of its liabilities,dthe banking group company is unable to pay its debts or other liabilities as they fall due,eparagraph (c) or (d) (or both) will, in the near future, apply to the banking group company, orfextraordinary public financial support is required in respect of the banking group company and subsection (5) does not apply to it.5This subsection applies where, in order to remedy a serious disturbance in the economy of the United Kingdom and preserve financial stability, the extraordinary financial support takes any of the following forms—aa State guarantee to back liquidity facilities provided by the Bank of England,ba State guarantee of newly issued liabilities,can injection of own funds, or purchase of capital instruments, at prices and on terms that do not confer an advantage upon the banking group company, where none of the circumstances referred to in subsection (4)(a), (b), (c), (d) or (e) are present at the time the public support is granted and none of Cases 1 to 4 in section 6A apply.6Before determining that Condition 3 is met, the PRA must consult the Bank of England.7Before determining whether or not Condition 4 is met, the Bank of England must consult—athe Treasury,bthe PRA, andcthe FCA.8Before determining that Conditions 5 and 6 are met the Bank of England must consult—athe Treasury,bthe PRA, andcthe FCA.9The special resolution objectives are not relevant to Conditions 3 and 4.10In this section “regulatory requirement” means a requirement imposed—aby or under the Financial Services and Markets Act 2000,bby or under the capital requirements regulation including any retained EU law that was originally made under Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms,cby any enactment which was relied on by the United Kingdom immediately before IP completion day to implement the capital requirements directive and its implementing measures or any retained EU law originally made under that directive, ordby the Bank of England under this Act,and for the purposes of this definition, “capital requirements directive” means Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC.<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Substitution ChangeId="key-d9dd5eaf619a27cda1f8d35af008c4cd-1618830491229" CommentaryRef="key-d9dd5eaf619a27cda1f8d35af008c4cd">Sections 81AA to 81ZBB: supplemental</Substitution></Addition>81C1In the following provisions references to banks include references to banking group companies—asection 10(1), ...aasection 48Z, andbsection 75(5)(a).1AWhere section 6B applies to a banking group company by virtue of section 81AA, sections 6B to 6D apply with the following modifications—areferences to the bank are to be read as references to the banking group company,aawhere Case 4 in section 81AA applies, section 6B(2) is to be read as providing that “the mandatory reduction provision” is provision which, together with the mandatory reduction provision made in respect of any other subsidiary of the resolution entity that is in the same resolution group as the banking group company, produces the results referred to in subsection (1AA) of this section,bin section 6B, in subsection (8) the reference to section 6A is to be read as a reference to section 81AA and subsection (9) is to be ignored,cin sections 6B and 6C references, which (by virtue of paragraph (a)) are read as references to a UK parent undertaking of a banking group company, include, where the banking group company satisfied section 81D(1)(a) by reference to a bank which is not a UK parent undertaking of the banking group company, a reference to that bank,dfor the purposes of section 6D, references to a bank in sections 48L(3), 48O and 48T are to be read as references to the banking group company, and, where the banking group company satisfied section 81D(1)(a) by reference to a bank (“the failing bank”), those references to a bank (except the first reference in section 48T(1)) are also to be read as including a reference to the failing bank.1AAThe results are that—athe principal amount of the relevant capital instruments or relevant internal liabilities of the banking group company is reduced, orbsuch instruments or liabilities of the banking group company are converted (directly or indirectly) into Common Equity Tier 1 instruments,(or both (a) and (b)) in accordance with the principle that losses of the bank referred to in relation to that banking group company in section 81AA(8A)(a) are effectively passed on to, and the bank is recapitalised by, the resolution entity that is in the same resolution group as the banking group company.1BWhere the Bank of England makes a mandatory reduction instrument in respect of a banking group company, section 6E applies (with any necessary modifications) as if the banking group company were a bank.2Where the Bank of England exercises a stabilisation power in respect of a banking group company in reliance on section 81B , 81ZZBA, 81ZBA or 81ZBB, the provisions relating to the stabilisation powers and the bank administration procedure contained in this Act (except sections 7 , 8 and 8ZA) and any other enactment apply (with any necessary modifications) as if the banking group company were a bank.3For the purposes of the application of section 143 (grounds for applying for bank administration order), the reference in subsection (2) to the Bank of England exercising a stabilisation power includes a case where the Bank of England intends to exercise such a power.<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">Section 81BA </Addition></Addition><Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0"><Addition ChangeId="key-eee37fc200ab7996e9da33749a2f0cec-1618828540554" CommentaryRef="key-eee37fc200ab7996e9da33749a2f0cec">and Section 81BB</Addition></Addition></Addition><Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"><Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">: supplemental</Addition></Addition>81CA1This section applies where the Bank of England has power under section 81BA or section 81BB to exercise a stabilisation power in respect of a banking group company.2The provisions relating to the stabilisation powers and the bank administration procedure contained in this Act (except section 7) and any other enactment apply (with any necessary modifications) as if the banking group company were a bank.3Where the banking group company mentioned in subsection (1) is a parent undertaking of the bank mentioned in section 81BA(2) (“the bank”)—athe provisions in this Act relating to resolution instruments are to be read in accordance with the general rule in subsection (4), butbthat is subject to the modifications in subsection (5);and provisions in this Act and any other enactment are to be read with any modifications that may be necessary as a result of paragraphs (a) and (b).4The general rule is that the provisions in this Act relating to resolution instruments (including supplemental resolution instruments) are to be read (so far as the context permits)—aas applying in relation to the bank as they apply in relation to the parent undertaking, andbso, in particular, as allowing any provision that may be made in a resolution instrument in relation to the parent undertaking to be made (also or instead) in relation to the bank.5Where the banking group company mentioned in subsection (1) is a parent undertaking of the bank ... or third-country institution mentioned in section 81BA(2) (“the group entity”)asection 41A (transfer of property subsequent to resolution instrument) applies as if the reference in subsection (2) to the bank were to the parent undertaking, the bank and any other bank which is or was in the same group;bsection 48V (onward transfer)—iapplies as if the references in subsection (3) to “the bank” included the group entity, the parent undertaking and any other bank which is or was in the same group, and with the omission of subsection (4) of that section, andiiis to be read as permitting the transfer of securities only if they are held by (or for the benefit of) the parent undertaking or a subsidiary company of the parent undertaking;csection 48W (reverse transfer) applies as if the references in subsections (2) and (3) to “the bank” included the group entity, the parent undertaking and any other bank which is or was in the same group.6Where section 48B (special bail-in provision) applies in accordance with subsection (4) (so that section 48B applies in relation to the bank mentioned in section 81BA(2) as it applies in relation to the parent undertaking mentioned in subsection (3)), the provision that may be made in accordance with section 48B(1)(b) (see also rule 3(a) and (b) of section 48B(5)) includes provision replacing a liability (of any form) of that bank with a security (of any form or class) of the parent undertaking.7Where the banking group company mentioned in subsection (1) is a parent undertaking of the bank mentioned in section 81BA(2)—asection 214B of the Financial Services and Markets Act 2000 (contribution to costs of special resolution regime) applies, andbthe reference in subsection (1)(b) of that section to the bank, and later references in that section, are treated as including references to any other bank which is a subsidiary undertaking of the parent undertaking (but not the parent undertaking itself).<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Interpretation: “banking group company” &c.</Addition>81D1In this Part “banking group company” means an undertaking—awhich is (or, but for the exercise of a stabilisation power, would be) in the same group as a bank ... or third-country institution (within the meaning of section 81AA(14)), andbin respect of which any conditions specified in an order made by the Treasury are met.2An order may require the Bank of England to consult specified persons before determining whether the conditions are met.3An order—ais to be made by statutory instrument, andbmay not be made unless a draft has been laid before and approved by resolution of each House of Parliament.4If an order contains a statement that the Treasury are of the opinion that, by reason of urgency, it is necessary to make the order without complying with subsection (3)(b)—athe order may be made, andbthe order lapses unless approved by resolution of each House of Parliament during the period of 28 days (ignoring periods of dissolution, prorogation or adjournment of either House for more than 4 days) beginning with the day on which the order is made.5The lapse of an order under subsection (4)(b)—adoes not invalidate anything done under or in reliance on the order before the lapse and at a time when neither House has declined to approve the order, andbdoes not prevent the making of a new order (in new terms).6Undertakings are in the same group for the purposes of sections 81AA to 81CA and this section if they are group undertakings in respect of each other.7Expressions defined in the Companies Act 2006 have the same meaning in sections 81B to 81CA and this section as in that Act.Temporary public ownership821The Treasury may take a parent undertaking of a bank (the “holding company”) into temporary public ownership, in accordance with section 13(2), if the following conditions are met.2Condition 1 is that the PRA is satisfied that the general conditions for the exercise of a stabilisation power set out in section 7 are met in respect of the bank.3Condition 2 is that the Treasury are satisfied that it is necessary to take action in respect of the holding company for the purpose specified in Condition A or B of section 9.4Condition 3 is that the holding company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.5Before determining whether Condition 2 is met the Treasury must consult—athe PRA,aathe FCA, andbthe Bank of England.6Expressions used in this section have the same meaning as in the Companies Act 2006.Supplemental831In the following provisions references to banks include references to holding companies—asection 10(1),aasection 12ZA(2)(c),bsection 13(3),csection 16(1), anddsection 75(5)(a).2Where the Treasury take a bank's holding company into temporary public ownership in reliance on section 82—asection 20(2) applies to (i) directors of the holding company, (ii) directors of the bank, and (iii) directors of a bank in the same group,bsection 25(2) applies as if references to a bank were references to a holding company,csections 27 to 29 apply as if references to a bank were references to a holding company,da share transfer may be made in respect of securities which were issued by the bank or by another bank which is or was in the same group; and a transfer—ishall be made by onward share transfer order under section 28 or by reverse share transfer order under section 29 (in addition to any that may be made under those sections as applied by paragraph (c) above),iimay be made under section 28 only in respect of securities held by (or for the benefit of) the holding company or a subsidiary undertaking of the holding company,iiiis not subject to section 28(4), and ivis not subject to the restriction in section 29(3) that the securities issued by the bank were transferred under the original order (as defined in section 29(1)).esection 45 applies as if—ithe reference to a bank in subsection (1) were a reference to a holding company, andiia reference to the bank in subsection (3) were a reference to the holding company, the bank and any other bank which is or was in the same group,fsections 65 to 68 apply, with—ireferences to the bank or the transferred bank taken as references to the bank, the holding company and any other bank which is or was in the same group, andiireferences to securities of the bank taken as including references to securities of the holding company (so that, in particular, sections 65(1)(a)(ii) and 68(1)(a) include references to the earlier transfer of securities issued by the holding company),gother provisions of this Act about share transfer orders apply with any necessary modifications,hsection 214B of the Financial Services and Markets Act 2000 applies (contribution to costs of special resolution regime...), andithe reference in section 214B(1)(b) to the bank, and later references in the section, are treated as including references to any other bank which is also a subsidiary undertaking of the holding company (but not to the holding company itself).3A reference in this Act or another enactment to a share transfer order in respect of securities issued by a bank includes (so far as the context permits) a reference to a share transfer order in respect of securities issued by a holding company.4In so far as sections 47 and 60 apply in relation to orders treated as property transfer instruments by virtue of section 45(5)(b) or 46(5)(b) (including those sections as applied by virtue of subsection (2) above) the reference in section 47(1) to the property of a bank includes a reference to the property of a holding company and of any other bank which is or was in the same group.5Expressions used in this section have the same meaning as in the Companies Act 2006.6A reference to two banks being in the same group is a reference to their being group undertakings in respect of each other.S. 81ZBA inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 91S. 81C(1AA) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 18(b)Words in s. 81ZBC(10)(b) inserted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 68(b)(i)S. 81BA inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 7(1); S.I. 2014/3160, art. 2(1)(b)S. 82 cross-heading substituted (1.8.2014) by Financial Services Act 2012 (c. 21), ss. 100(5), 122(3) (with Sch. 20); S.I. 2014/1847, art. 2Words in s. 81ZBC(5)(a) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 68(a)Words in s. 81CA(5) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 94(3)(a)S. 81AA(8A) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 13(c)Words in s. 81AA(14) 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. 1 para. 29(10)(a); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81CA(2) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 94(2)S. 81B modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 92(1)Words in s. 81AA(2)(c)(i) 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. 1 para. 29(2)(a); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81AA(8)(b) 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. 1 para. 29(7); 2020 c. 1, Sch. 5 para. 1(1)S. 81B(2)(2A) substituted for s. 81B(2) (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 90(2)Words in s. 81ZBC(10)(c) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 68(b)(ii)Ss. 81B-81D inserted (5.6.2014 for specified purposes, 1.8.2014 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 100(5), 122(3) (with Sch. 20); S.I. 2014/1447, art. 2(b); S.I. 2014/1847, art. 2S. 81C(1A)(aa) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 18(a)Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2Words in s. 81AA(14) 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. 1 para. 29(10)(b); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81CA(5)(c) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 94(3)(c)Words in s. 81CA(5)(b)(i) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 94(3)(b)S. 81C(1A)(1B) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 93(3)Words in s. 81AA(8)(b) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 13(b)Words in s. 81C(2) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 93(4)(b)Words in s. 81AA(1) substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 13(a)(ii)Words in s. 81ZBB(3) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 67(a)Ss. 81ZZBA, 81ZZBB inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 14Words in s. 81D(1)(a) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 95(2)Words in s. 81CA(5) 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. 1 para. 33; 2020 c. 1, Sch. 5 para. 1(1)Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7S. 81CA inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 7(2); S.I. 2014/3160, art. 2(1)(b)Words in s. 81AA(2)(c)(ii) 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. 1 para. 29(2)(b); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81B(9) 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. 1 para. 30(4)(a); 2020 c. 1, Sch. 5 para. 1(1)S. 81BA(2)(b) 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. 1 para. 32(a); 2020 c. 1, Sch. 5 para. 1(1)Ss. 81BB, 81BC inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 16Words in s. 81B(3) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 90(3)S. 81AA inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 89S. 81C(1)(aa) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 93(2)(b)Words in s. 81AA(7)(a) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 13(b)S. 81B(9) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 90(4)Words in s. 81AA(8)(b) omitted (16.12.2016) by virtue of The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 18S. 81ZBA modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 92(2)S. 81AA(11)(c)(i)(ii) 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. 1 para. 29(9)(a); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81CA(1) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 20Words in s. 81BB(3) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 69Words in s. 81D(7) substituted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 7(3)(b); S.I. 2014/3160, art. 2(1)(b)S. 83(2)(d)(iv) substituted for s. 83(2)(d)(iv)(v) (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 97(10)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.Words in s. 81B(2A) 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. 1 para. 30(3); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 83(2)(h) omitted (8.4.2010) by virtue of Financial Services Act 2010 (c. 28), s. 26(1)(l), Sch. 2 para. 42Words in s. 81AA(1) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 13(a)(i)S. 83 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 1S. 81BA modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 92(3)Word in s. 81AA(4)(c) 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. 1 para. 29(5); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81ZBB(11) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 67(b)(ii)Word in s. 83(2)(d)(iii) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 97(10)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.Words in s. 81ZBA(2A) 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. 1 para. 31(3); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81D(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. 1 para. 34(a); 2020 c. 1, Sch. 5 para. 1(1)S. 81AA(2A) 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. 1 para. 29(3); 2020 c. 1, Sch. 5 para. 1(1)Word in s. 81ZBB(11) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 67(b)(i)Words in s. 81ZZBB(10)(b) inserted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 66(b)(i)Words in s. 81ZZBB(5)(a) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 66(a)Words in s. 81B(9) 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. 1 para. 30(4)(b); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81ZZBA(3) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 65Ss. 81ZBB, 81ZBC inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 15S. 81B(2)(b) 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. 1 para. 30(2); 2020 c. 1, Sch. 5 para. 1(1)Word in s. 81C(1)(a) omitted (1.1.2015) by virtue of The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 93(2)(a)Words in s. 81D(6) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 95(3)Words in s. 81AA(11)(c)(iii) 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. 1 para. 29(9)(b); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81BC(5)(a) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 70(a)S. 82 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1S. 81C heading substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 17Words in s. 81ZBA(9) 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. 1 para. 31(4); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 82(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 27(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.Words in s. 81C(2) substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 18(c)S. 82(5)(a)(aa) substituted for s. 82(5)(a) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 27(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.S. 81BA(2)(2A) substituted for s. 81BA(2) (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 92(2)S. 81BA(7) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 92(4)S. 81AA(6) 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. 1 para. 29(6); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81AA(9) 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. 1 para. 29(8); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81BA(2A) 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. 1 para. 32(b); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81BC(10)(b) inserted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 70(b)(i)Words in s. 81AA(14) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 13(d)Words in s. 81CA heading inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 19Words in s. 81AA(14) 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. 1 para. 29(10)(c); 2020 c. 1, Sch. 5 para. 1(1)Word in s. 81D(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. 1 para. 34(b); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 81ZZBB(10)(c) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 66(b)(ii)S. 83(1)(aa) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 96(1)Words in s. 81BC(10)(c) substituted (31.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(3), 70(b)(ii)Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2Words in s. 81BA(3) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 92(3)S. 81AA(3)(b)(ii) 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. 1 para. 29(4); 2020 c. 1, Sch. 5 para. 1(1)S. 81ZBA(2)(b) 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. 1 para. 31(2); 2020 c. 1, Sch. 5 para. 1(1)
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<P1group RestrictExtent="E+W+S+N.I." RestrictStartDate="2020-12-31">
<Title>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">Cases where mandatory write-down, conversion </Addition>
<Abbreviation Expansion="Et cetera" xml:lang="la">
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">etc</Addition>
</Abbreviation>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> applies: banking group companies</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA" id="section-81AA">
<Pnumber PuncAfter=".">
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">81AA</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/1" id="section-81AA-1">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">1</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">Section 6B (mandatory write-down, conversion, </Addition>
<Abbreviation Expansion="et cetera" xml:lang="la">
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">etc.</Addition>
</Abbreviation>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> of capital instruments </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-9cdb08f7c7d140077afcd56a046cf547-1618909044317" CommentaryRef="key-9cdb08f7c7d140077afcd56a046cf547">and relevant internal liabilities</Addition>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">) applies in relation to a banking group company in the cases set out in subsections (2), (4) </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Substitution ChangeId="key-5546e3bae88e213c0844876c7f222845-1618909098380" CommentaryRef="key-5546e3bae88e213c0844876c7f222845">, (8) and (8A)</Substitution>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2" id="section-81AA-2">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">2</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">Case 1 is where—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2/a" id="section-81AA-2-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the conditions imposed by section 81B or 81ZBA on the exercise of a stabilisation power in accordance with section 11(2), 12(2) or 12ZA(3) are met in respect of the banking group company,</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2/b" id="section-81AA-2-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the Bank of England has decided to exercise the stabilisation power,</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2/c" id="section-81AA-2-c">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">c</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">if the banking group company—</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2/c/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2/c/i" id="section-81AA-2-c-i">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">i</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">is a financial institution which is a subsidiary of an institution (within the meaning of </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Substitution ChangeId="key-26feb648afeb1300a36a77ead93b4741-1627548807835" CommentaryRef="key-26feb648afeb1300a36a77ead93b4741">Article 4.1A of the capital requirements regulation</Substitution>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">) (“the parent institution”), but</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2/c/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2/c/ii" id="section-81AA-2-c-ii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">ii</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">is not an entity within </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Substitution ChangeId="key-6cf81b4cc2c8762492e3f6a076113b21-1627548954758" CommentaryRef="key-6cf81b4cc2c8762492e3f6a076113b21">subsection (2A)</Substitution>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">,</Addition>
</Text>
</P4para>
</P4>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the requirements of subsection (3) are met, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2/d" id="section-81AA-2-d">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">d</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">section 12AA (mandatory write-down </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">etc</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> in bail-in cases) does not apply in relation to the banking group company by virtue of the exercise of a power under section 81BA (bail-in: banking group company).</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2A/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2A" id="section-81AA-2A">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">2A</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">The entities covered by subsection (2)(c)(ii) are—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2A/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2A/a" id="section-81AA-2A-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">an entity of any of the following kinds which is established in the United Kingdom—</Addition>
</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2A/a/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2A/a/i" id="section-81AA-2A-a-i">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">i</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">a financial holding company;</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2A/a/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2A/a/ii" id="section-81AA-2A-a-ii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">ii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">a mixed financial holding company;</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2A/a/iii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2A/a/iii" id="section-81AA-2A-a-iii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">iii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">a mixed-activity holding company;</Addition>
</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/2A/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/2A/b" id="section-81AA-2A-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">a UK parent financial holding company or a UK parent mixed financial holding company,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-af238899b5ea5907cf6d3190217c33c6-1627549340046" CommentaryRef="key-af238899b5ea5907cf6d3190217c33c6">and expressions used in this subsection have the same meaning as in the capital requirements regulation.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/3" id="section-81AA-3">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">3</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">For the purposes of subsection (2)(c)—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/3/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/3/a" id="section-81AA-3-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the first requirement is that—</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/3/a/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/3/a/i" id="section-81AA-3-a-i">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">i</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the appropriate authority is satisfied that Condition 1 in section 7 is met in relation to the banking group company, and</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/3/a/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/3/a/ii" id="section-81AA-3-a-ii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">ii</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the Bank of England is satisfied that Conditions 2, 3 and 4 of that section are met in relation to that company;</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/3/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/3/b" id="section-81AA-3-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the second requirement is that—</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/3/b/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/3/b/i" id="section-81AA-3-b-i">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">i</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">where the parent institution is a bank, the PRA is satisfied that Condition 1 in section 7 is met, and the Bank of England is satisfied that Conditions 2, 3 and 4 in that section are met in relation to the parent institution,</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/3/b/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/3/b/ii" id="section-81AA-3-b-ii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">ii</Addition>
</Pnumber>
<P4para>
<Text>
<CommentaryRef Ref="key-fcf98f41282851d36049cd19cc2c93e7"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">...</Addition>
<Acronym Expansion="European Union"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> and</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/3/b/iii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/3/b/iii" id="section-81AA-3-b-iii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">iii</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">where the parent institution is a third-country institution, subsection (7) applies in relation to the banking group company by reason of that third country institution.</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/4" id="section-81AA-4">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">4</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">Case 2 is where—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/4/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/4/a" id="section-81AA-4-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the appropriate authority is satisfied that Condition 1 in section 7 is met in respect of the banking group company,</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/4/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/4/b" id="section-81AA-4-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the Bank of England is satisfied that—</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/4/b/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/4/b/i" id="section-81AA-4-b-i">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">i</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">(ignoring section 6B) Condition 2 in section 7 is met, and</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/4/b/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/4/b/ii" id="section-81AA-4-b-ii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">ii</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">that Condition will continue to be met unless the action required by section 6B is taken in respect of the banking group company, and</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/4/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/4/c" id="section-81AA-4-c">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">c</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">one of subsections (5) </Addition>
<CommentaryRef Ref="key-9efd635baed509b630eed062ff74dc65"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">... or (7) apply in relation to the banking group company.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/5" id="section-81AA-5">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">5</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">This subsection applies in relation to the banking group company if—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/5/a" id="section-81AA-5-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the PRA is satisfied that Condition 1 in section 7 is met in respect of a bank to which section 81D(1)(a) applies, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/5/b" id="section-81AA-5-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the Bank of England is satisfied that (ignoring section 6B) Condition 2 in section 7 is met in relation to that bank.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/6" id="section-81AA-6">
<Pnumber>
<CommentaryRef Ref="key-e8ffeac5658535fb97f1a0eea88667e0"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">6</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/7" id="section-81AA-7">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">7</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">This subsection applies in relation to the banking group company if the relevant third-country authority has determined that any conditions required by the law of the third country to be met before—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/7/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/7/a" id="section-81AA-7-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">any power for the relevant third country authority to write down or convert capital instruments </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-8137bdea7938d4bc6493ee835769214c-1618909202302" CommentaryRef="key-8137bdea7938d4bc6493ee835769214c">or relevant internal liabilities</Addition>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> provided for under the law of that third country may be exercised, or</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/7/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/7/b" id="section-81AA-7-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">third-country resolution action may be taken,</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">are met in relation to a third-country institution to which section 81D(1)(a) applies.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8" id="section-81AA-8">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">8</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">Case 3 is where—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8/a" id="section-81AA-8-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">extraordinary public financial support is required by the banking group company other than in circumstances where subsection (5E) of section 7 applies by virtue of paragraph (c) of that subsection, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8/b" id="section-81AA-8-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">the Bank of England is satisfied </Addition>
<CommentaryRef Ref="key-8266c9e9d690a7e09407d814a3982912"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">... that, in order for a bank </Addition>
<CommentaryRef Ref="key-27552da841acd6b631430b9972b1996d"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">...</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> which is a member of the same group as the banking group company to fulfil its own funds requirements, relevant capital instruments </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-4fb7290acd1156c60c13b0ea69d19e24-1618909236995" CommentaryRef="key-4fb7290acd1156c60c13b0ea69d19e24">or relevant internal liabilities</Addition>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> of the banking group company need to be written down or converted into Common Equity Tier 1 instruments (or both).</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8A/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8A" id="section-81AA-8A">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">8A</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">Case 4 is where—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8A/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8A/a" id="section-81AA-8A-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">the banking group company is (or, but for the exercise of a stabilisation power, would be) a parent undertaking of a bank from which it has purchased (directly or indirectly) relevant capital instruments or relevant internal liabilities,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8A/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8A/b" id="section-81AA-8A-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">the banking group company is not a resolution entity,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8A/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8A/c" id="section-81AA-8A-c">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">the relevant capital instruments or relevant internal liabilities of the banking group company have been purchased (directly or indirectly) by a resolution entity in the same resolution group as the banking group company,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8A/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8A/d" id="section-81AA-8A-d">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">d</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">any of the cases provided for in section 6A applies to the bank referred to in paragraph (a) above, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/8A/e/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/8A/e" id="section-81AA-8A-e">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">e</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-1a1b992d500d3d0cbf2c49bfa43b764a-1618909271277" CommentaryRef="key-1a1b992d500d3d0cbf2c49bfa43b764a">none of cases 1 to 3 in this section applies to the banking group company.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/9/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/9" id="section-81AA-9">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">9</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">For the purposes of determining if the matters set out in subsections (3) to (7) are satisfied, the FCA, PRA, Bank of England </Addition>
<CommentaryRef Ref="key-eae066b89cbee1c86919cb7e9a53fcdd"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">...</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> or relevant third-country authority (as the case may be) may ignore any transfer of losses or capital made between members of the group.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/10/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/10" id="section-81AA-10">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">10</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">For the purposes of subsections (3)(a) and (b), (4), (5) and (8)—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/10/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/10/a" id="section-81AA-10-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">references in section 7 to the bank are to be read—</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/10/a/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/10/a/i" id="section-81AA-10-a-i">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">i</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">in the case of subsections (3)(a) and (b), (4) and (5), as references to the banking group company, and</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/10/a/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/10/a/ii" id="section-81AA-10-a-ii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">ii</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">in the case of subsection (8), as references to the banking group company or the parent institution (as the case may be), and</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/10/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/10/b" id="section-81AA-10-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">section 7(5C)(a) is to be ignored in determining whether Condition 1 in that section is met in relation to the banking group company where that company is not a </Addition>
<Acronym Expansion="United Kingdom">
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">UK</Addition>
</Acronym>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> authorised person.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/11/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/11" id="section-81AA-11">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">11</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">For the purposes of subsections (3), (4) and (5), the “appropriate authority” means—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/11/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/11/a" id="section-81AA-11-a">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">in the case of a banking group company which is a PRA-authorised person, the PRA;</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/11/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/11/b" id="section-81AA-11-b">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">in the case of a banking group company which is a </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">UK</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> authorised person but not a PRA-authorised person, the FCA;</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/11/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/11/c" id="section-81AA-11-c">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">c</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">in the case of a banking group company which is not an </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">UK</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> authorised person—</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/11/c/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/11/c/i" id="section-81AA-11-c-i">
<Pnumber>
<CommentaryRef Ref="key-84e6f7524d9cfb1704a7cd72c8e258c5"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">i</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/11/c/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/11/c/ii" id="section-81AA-11-c-ii">
<Pnumber>
<CommentaryRef Ref="key-84e6f7524d9cfb1704a7cd72c8e258c5"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">ii</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/11/c/iii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/11/c/iii" id="section-81AA-11-c-iii">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">iii</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">if </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Substitution ChangeId="key-d636fba76bb4849d4240030698d82a5c-1627550220478" CommentaryRef="key-d636fba76bb4849d4240030698d82a5c">the parent undertaking of the group is not a UK authorised person and</Substitution>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> there is a PRA-authorised person in the group, the PRA; and</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/11/c/iv/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/11/c/iv" id="section-81AA-11-c-iv">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">iv</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">in all other cases, the Bank of England.</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/12/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/12" id="section-81AA-12">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">12</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">Where the PRA is the “appropriate authority” under subsection (11) in relation to a banking group company in the same group as a </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">UK</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> authorised person which is not a PRA-authorised person, the PRA must consult the FCA before making any decision as to whether the conditions referred to in subsection (3)(a), (4)(a) or (5)(a) (the “relevant conditions”) are satisfied.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/13/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/13" id="section-81AA-13">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">13</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">Where the FCA is the “appropriate authority” under subsection (11) in relation to a banking group company in the same group as a PRA-authorised person, the FCA must consult the PRA before making any decision as to whether the relevant conditions are satisfied.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81AA/14/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81AA/14" id="section-81AA-14">
<Pnumber>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">14</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">For the purposes of this section—</Addition>
</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<CommentaryRef Ref="key-1c155c1c065efd3a208b35c45872a30f"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">...</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<CommentaryRef Ref="key-1c155c1c065efd3a208b35c45872a30f"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">...</Addition>
</Text>
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<ListItem>
<Para>
<Text>
<CommentaryRef Ref="key-1c155c1c065efd3a208b35c45872a30f"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">...</Addition>
</Text>
</Para>
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<ListItem>
<Para>
<Text>
<CommentaryRef Ref="key-1c155c1c065efd3a208b35c45872a30f"/>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">...</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">“financial institution” has the </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Substitution ChangeId="key-43619c26d43d8819e5598ec1140ac9f8-1627550334482" CommentaryRef="key-43619c26d43d8819e5598ec1140ac9f8">same meaning as in the capital requirements regulation</Substitution>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">;</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Addition ChangeId="key-ee572d21b268ac6184296ea2eb75433f-1618909320938" CommentaryRef="key-ee572d21b268ac6184296ea2eb75433f">“parent undertaking” has the meaning given in Article 4.1(15)(a) of the capital requirements regulation;</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">“PRA-authorised person” has the meaning given in section 2B(5) of the Financial Services and Markets Act 2000;</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">“relevant third-country authority” </Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">
<Substitution ChangeId="key-f064e14c122b477a965f472d10fa7ed8-1627550381611" CommentaryRef="key-f064e14c122b477a965f472d10fa7ed8">means an authority in a country or territory other than the United Kingdom which has functions corresponding to those of the Bank of England, the FCA or the PRA, in relation to bank recovery and resolution</Substitution>
</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">;</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">“third-country institution” has the meaning given in section 89H(7);</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">“third-country resolution action” has the meaning given in section 89H(7);</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"></Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa">UK</Addition>
<Addition ChangeId="key-7fdfbfb1b3ea055870a9de7f72d5c9aa-1582837931728" CommentaryRef="key-7fdfbfb1b3ea055870a9de7f72d5c9aa"> authorised person” has the same meaning as in section 105(8) of the Financial Services and Markets Act 2000.</Addition>
</Text>
</Para>
</ListItem>
</UnorderedList>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictStartDate="2020-12-31">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Sale to commercial purchaser and transfer to bridge bank</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B" id="section-81B">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-25ac6af913ac52c2e53fbf7a2f81ffeb"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">81B</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/1" id="section-81B-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">1</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">The Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 11(2) or 12(2) if the following conditions are met.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/2" id="section-81B-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">2</Substitution>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">Condition 1 is that—</Substitution>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/2/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/2/a" id="section-81B-2-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">a</Substitution>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">the PRA is satisfied that Condition 1 of the general conditions is met in respect of a bank in the same group and the Bank of England is satisfied that Conditions 2, 3 and 4 of the general conditions are met in respect of that bank, or</Substitution>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/2/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/2/b" id="section-81B-2-b">
<Pnumber>
<CommentaryRef Ref="key-d30ab7e82e9abdfa7ec0a0fc367c2458"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">b</Substitution>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Substitution>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/2/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/2/c" id="section-81B-2-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">c</Substitution>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">a relevant third-country authority of a third-country institution in the same group is satisfied that any conditions required by the law of the third country to be met before third-country resolution action may be taken are met in relation to that third-country institution.</Substitution>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/2A/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/2A" id="section-81B-2A">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">2A</Substitution>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">For the purposes of determining if a requirement of Condition 1 is met, the PRA, Bank of England </Substitution>
</Addition>
<CommentaryRef Ref="key-951b0b3421a9e07b72c7ea7e37815447"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e">...</Substitution>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-2bf3e46b0aea3f30605136b17811695e-1582824575258" CommentaryRef="key-2bf3e46b0aea3f30605136b17811695e"> or relevant third-country authority (as the case may be) may ignore any transfer of losses or capital made between members of the group.</Substitution>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/3" id="section-81B-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">3</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Condition 2 (which does not apply in a financial assistance case) is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the </Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-74f07ff99222134211ec25f46946a8b1-1582824673039" CommentaryRef="key-74f07ff99222134211ec25f46946a8b1">public interest in the advancement of one or more of the special resolution objectives.</Substitution>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/4" id="section-81B-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">4</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Condition 3 (which applies only in a financial assistance case) is that—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/4/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/4/a" id="section-81B-4-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">the Treasury have recommended the Bank of England to exercise a stabilisation power on the grounds that it is necessary to protect the public interest, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/4/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/4/b" id="section-81B-4-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">in the Bank's opinion, exercise of the power in respect of the banking group company is an appropriate way to provide that protection.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/5" id="section-81B-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">5</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Condition 4 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/6" id="section-81B-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">6</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Before determining whether Condition 2 or 3 (as appropriate) is met, the Bank of England must consult—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/6/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/6/a" id="section-81B-6-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">the Treasury,</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/6/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/6/b" id="section-81B-6-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">the PRA, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/6/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/6/c" id="section-81B-6-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">c</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">the FCA.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/7" id="section-81B-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">7</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">In exercising a stabilisation power in reliance on this section the Bank of England must have regard to the need to minimise the effect of the exercise of the power on other undertakings in the same group.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/8" id="section-81B-8">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">8</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">In this section “</Addition>
<Term>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">financial assistance case</Addition>
</Term>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">” means a case in which the Treasury notify the Bank of England that they have provided financial assistance in respect of a bank in the same group for the purpose of resolving or reducing a serious threat to the stability of the financial systems of the United Kingdom.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81B/9/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81B/9" id="section-81B-9">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">9</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">In this section—</Addition>
</Addition>
</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<CommentaryRef Ref="key-6f5e01e37d92359b4966328ce1685675"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">...</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<CommentaryRef Ref="key-6f5e01e37d92359b4966328ce1685675"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">...</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">“the general conditions” means the general conditions for the exercise of a stabilisation power set out in section 7;</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">“relevant third-country authority” has the meaning given by </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">
<Substitution ChangeId="key-be5cd69b84d96c52cf361b5d95073761-1627550973645" CommentaryRef="key-be5cd69b84d96c52cf361b5d95073761">section 81AA(14)</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">;</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">“third-country institution” has the meaning given by section 89H(7);</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8237184bf9d2511c9e85a39467021192-1582824620419" CommentaryRef="key-8237184bf9d2511c9e85a39467021192">“third-country resolution action” has the meaning given by section 89H(7).</Addition>
</Addition>
</Text>
</Para>
</ListItem>
</UnorderedList>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictStartDate="2020-12-31">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Sale to commercial purchaser and transfer to bridge bank: supplemental powers in relation to certain holding companies</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA" id="section-81ZZBA">
<Pnumber PuncAfter=".">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">81ZZBA</Addition>
</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/1" id="section-81ZZBA-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">1</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Without prejudice to the operation of section 81B, the Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 11(2) or 12(2) if the following conditions are met.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/2" id="section-81ZZBA-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">2</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Condition 1 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/3" id="section-81ZZBA-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Condition 2 is that the banking group company is an entity within </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">
<Substitution ChangeId="key-c4bdae7053eea94fd4337460e5cdafb8-1627554141001" CommentaryRef="key-c4bdae7053eea94fd4337460e5cdafb8">subsection (2A) of section 81AA</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/4" id="section-81ZZBA-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Condition 3 is that the PRA is satisfied that the banking group company is failing or likely to fail.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/5" id="section-81ZZBA-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Condition 4 is that the Bank of England is satisfied that, having regard to timing and other relevant circumstances, it is not reasonably likely that (ignoring the stabilisation powers) action will be taken by or in respect of the banking group company that will result in Condition 3 ceasing to be met.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/6" id="section-81ZZBA-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Condition 5 is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the public interest in the advancement of one or more of the special resolution objectives.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/7" id="section-81ZZBA-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">7</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Condition 6 is that the Bank of England is satisfied that one or more of the special resolution objectives would not be met to the same extent by the winding up of the banking group company.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/8" id="section-81ZZBA-8">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">8</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Condition 7 (which applies only in a financial assistance case) is that—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/8/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/8/a" id="section-81ZZBA-8-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the Treasury have recommended the Bank of England to exercise a stabilisation power on the grounds that it is necessary to protect the public interest, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/8/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/8/b" id="section-81ZZBA-8-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">in the Bank of England’s opinion, exercise of the power in respect of the banking group company is an appropriate way to provide that protection.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/9/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/9" id="section-81ZZBA-9">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">9</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">In exercising a stabilisation power in reliance on this section, the Bank of England must have regard to the need to minimise the effect of the exercise of the power on other undertakings in the same group.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBA/10/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/10" id="section-81ZZBA-10">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">10</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">In this section “financial assistance case” has the meaning given in section 81B(8).</Addition>
</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2024-01-01" RestrictStartDate="2020-12-31" RestrictExtent="E+W+S+N.I.">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Assessment of conditions for section 81ZZBA</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB" id="section-81ZZBB">
<Pnumber PuncAfter=".">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">81ZZBB</Addition>
</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/1" id="section-81ZZBB-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">1</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">This section applies for the purposes of section 81ZZBA.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/2" id="section-81ZZBB-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">2</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">The PRA must treat Condition 3 as met if satisfied that it would be met but for financial assistance provided by—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/2/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/2/a" id="section-81ZZBB-2-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the Treasury, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/2/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/2/b" id="section-81ZZBB-2-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the Bank of England,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">disregarding ordinary market assistance offered by the Bank of England on its usual terms.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/3" id="section-81ZZBB-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">The Bank of England must treat Condition 4 as met if satisfied that it would be met but for financial assistance of the kind mentioned in subsection (2).</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4" id="section-81ZZBB-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">For the purposes of Condition 3, a banking group company is failing or likely to fail if—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/a" id="section-81ZZBB-4-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">it is contravening or likely to contravene a regulatory requirement where that contravention is serious in nature or directly related to a deterioration in the financial situation of the banking group company which threatens the viability of—</Addition>
</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/a/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/a/i" id="section-81ZZBB-4-a-i">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">i</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the banking group company, or</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/a/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/a/ii" id="section-81ZZBB-4-a-ii">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">ii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">another undertaking in the same resolution group,</Addition>
</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/b" id="section-81ZZBB-4-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">it is failing, or is likely to fail, to meet the approval conditions set out in section 192R(3) to (6) of the Financial Services and Markets Act 2000 in circumstances where that failure—</Addition>
</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/b/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/b/i" id="section-81ZZBB-4-b-i">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">i</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">would justify the taking of measures in relation to the company by the PRA under section 192T(1) of that Act, and</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/b/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/b/ii" id="section-81ZZBB-4-b-ii">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">ii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">is serious in nature,</Addition>
</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/c" id="section-81ZZBB-4-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the value of the assets of the banking group company is less than the amount of its liabilities,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/d" id="section-81ZZBB-4-d">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">d</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the banking group company is unable to pay its debts or other liabilities as they fall due,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/e/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/e" id="section-81ZZBB-4-e">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">e</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">paragraph (c) or (d) (or both) will, in the near future, apply to the banking group company, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/4/f/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/4/f" id="section-81ZZBB-4-f">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">f</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">extraordinary public financial support is required in respect of the banking group company and subsection (5) does not apply to it.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/5" id="section-81ZZBB-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">This subsection applies where, in order to remedy a serious disturbance in the economy of the United Kingdom and preserve financial stability, the extraordinary financial support takes any of the following forms—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/5/a" id="section-81ZZBB-5-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a State guarantee to back liquidity facilities provided by </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">
<Substitution ChangeId="key-bc75166cc98bef0befe029cf158430aa-1627554259206" CommentaryRef="key-bc75166cc98bef0befe029cf158430aa">the Bank of England</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/5/b" id="section-81ZZBB-5-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a State guarantee of newly issued liabilities,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/5/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/5/c" id="section-81ZZBB-5-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">an injection of own funds, or purchase of capital instruments or liabilities, at prices and on terms that do not confer an advantage upon the banking group company, where none of the circumstances referred to in subsection (4)(a), (b), (c), (d) or (e) are present at the time the public support is granted and none of Cases 1 to 4 in section 6A apply.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/6" id="section-81ZZBB-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Before determining that Condition 3 is met, the PRA must consult the Bank of England.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/7" id="section-81ZZBB-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">7</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Before determining whether or not Conditions 4 and (where applicable) 7 are met, the Bank of England must consult—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/7/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/7/a" id="section-81ZZBB-7-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the Treasury,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/7/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/7/b" id="section-81ZZBB-7-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the PRA, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/7/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/7/c" id="section-81ZZBB-7-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the FCA.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/8" id="section-81ZZBB-8">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">8</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Before determining that Conditions 5 and 6 are met the Bank of England must consult—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/8/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/8/a" id="section-81ZZBB-8-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the Treasury,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/8/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/8/b" id="section-81ZZBB-8-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the PRA, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/8/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/8/c" id="section-81ZZBB-8-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">the FCA.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/9/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/9" id="section-81ZZBB-9">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">9</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">The special resolution objectives are not relevant to Conditions 3 and 4.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/10/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/10" id="section-81ZZBB-10">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">10</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">In this section “regulatory requirement” means a requirement imposed—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/10/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/10/a" id="section-81ZZBB-10-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">by or under the Financial Services and Markets Act 2000,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/10/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/10/b" id="section-81ZZBB-10-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">by or under the capital requirements regulation </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">
<Addition ChangeId="key-ba1c8e39397f54d6d123e2892ad2756e-1627554287650" CommentaryRef="key-ba1c8e39397f54d6d123e2892ad2756e">including any retained EU law that was originally made under Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms</Addition>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/10/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/10/c" id="section-81ZZBB-10-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">by any enactment which </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">
<Substitution ChangeId="key-f2c41aa1bd4d9b3eb3e48c4ff7f964ff-1627554322635" CommentaryRef="key-f2c41aa1bd4d9b3eb3e48c4ff7f964ff">was relied on by the United Kingdom immediately before IP completion day to implement the capital requirements directive and its implementing measures or any retained EU law originally</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c"> made under that directive, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZZBB/10/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/10/d" id="section-81ZZBB-10-d">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">d</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">by the Bank of England under this Act,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">and for the purposes of this definition, “capital requirements directive” means </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2013/0036" id="c00001" Class="EuropeanUnionDirective" Year="2013" Number="0036">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Directive 2013/36/EU</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c"> of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2002/0087" id="c00002" Class="EuropeanUnionDirective" Year="2002" Number="0087">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">Directive 2002/87/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c"> and repealing Directives </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2006/0048" id="c00003" Class="EuropeanUnionDirective" Year="2006" Number="0048">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">2006/48/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c"> and </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2006/0049" id="c00004" Class="EuropeanUnionDirective" Year="2006" Number="0049">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">2006/49/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-57b4d30bc15b8d597f5941611075606c-1618833142145" CommentaryRef="key-57b4d30bc15b8d597f5941611075606c">.</Addition>
</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
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<P1group RestrictStartDate="2020-12-31">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Transfer to asset management vehicle</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA" id="section-81ZBA">
<Pnumber PuncAfter=".">
<CommentaryRef Ref="key-829eb82588281686a850e964a2461834"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">81ZBA</Addition>
</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/1" id="section-81ZBA-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">1</Addition>
</Addition>
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<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">The Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 12ZA(3) if the following conditions are met.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/2" id="section-81ZBA-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">2</Addition>
</Addition>
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<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Condition 1 is that—</Addition>
</Addition>
</Text>
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<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">the PRA is satisfied that Condition 1 of the general conditions is met in respect of a bank in the same group and the Bank of England is satisfied that Conditions 2, 3 and 4 of the general conditions are met in respect of that bank, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/2/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/2/b" id="section-81ZBA-2-b">
<Pnumber>
<CommentaryRef Ref="key-ff72eeeb46d6d4b597f9e3c9c28b52e7"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/2/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/2/c" id="section-81ZBA-2-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">a relevant third-country authority of a third-country institution in the same group is satisfied that any conditions required by the law of the third country to be met before third-country resolution action may be taken are met in relation to that third-country institution.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/2A/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/2A" id="section-81ZBA-2A">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">2A</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">For the purposes of determining if a requirement of Condition 1 is met, the PRA, Bank of England </Addition>
</Addition>
<CommentaryRef Ref="key-ae578426e5978081aa817f620bc0fc11"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">...</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309"> or relevant third-country authority (as the case may be) may ignore any transfer of losses or capital made between members of the group.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/3" id="section-81ZBA-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Condition 2 is that the power is exercised in connection with the exercise of one or more stabilisation powers in respect of the banking group company otherwise than for the purposes of the third stabilisation option.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/4" id="section-81ZBA-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Condition 3 (which does not apply in a financial assistance case) is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary having regard to the public interest in the advancement of one or more of the special resolution objectives.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/5" id="section-81ZBA-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Condition 4 (which applies only in a financial assistance case) is that—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/5/a" id="section-81ZBA-5-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">the Treasury have recommended the Bank of England to exercise a stabilisation power on the grounds that it is necessary to protect the public interest, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/5/b" id="section-81ZBA-5-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">in the Bank of England’s opinion, exercise of the power in respect of the banking group company is an appropriate way to provide that protection.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/6" id="section-81ZBA-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Condition 5 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/7" id="section-81ZBA-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">7</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Condition 6 is that the Bank of England is satisfied that—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/7/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/7/a" id="section-81ZBA-7-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">the situation of the market for the assets which it is proposed to transfer by the exercise of the stabilisation power is of such a nature that the liquidation of those assets under normal insolvency proceedings could have an adverse effect on one or more financial markets,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/7/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/7/b" id="section-81ZBA-7-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">the transfer is necessary to ensure the proper functioning of the banking group company from which the transfer is to be made, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/7/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/7/c" id="section-81ZBA-7-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">the transfer is necessary to maximise the proceeds available for distribution.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/8" id="section-81ZBA-8">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">8</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">Before determining whether Conditions 2 and 5 and Condition 3 or 4 (as appropriate) are met, and if so how to react, the Bank of England must consult—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/8/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/8/a" id="section-81ZBA-8-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">the PRA,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/8/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/8/b" id="section-81ZBA-8-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">the FCA, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/8/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/8/c" id="section-81ZBA-8-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">the Treasury.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBA/9/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBA/9" id="section-81ZBA-9">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">9</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">For the purposes of this section—</Addition>
</Addition>
</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">“financial assistance case” has the meaning given by section 81B(8);</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<CommentaryRef Ref="key-da3a598b8edcbdbe7bcf013c044c0d66"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">...</Addition>
</Addition>
</Text>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-08ec4ed10580aef21e74348c4adc5309-1582837869968" CommentaryRef="key-08ec4ed10580aef21e74348c4adc5309">and the definitions in section 81B(9) apply.</Addition>
</Addition>
</Text>
</Para>
</ListItem>
</UnorderedList>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictStartDate="2020-12-31">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Transfer to asset management vehicle: supplemental powers in relation to certain holding companies</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB" id="section-81ZBB">
<Pnumber PuncAfter=".">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">81ZBB</Addition>
</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/1" id="section-81ZBB-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">1</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Without prejudice to the operation of section 81ZBA, the Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 12ZA(3) if the following conditions are met.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/2" id="section-81ZBB-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">2</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 1 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/3" id="section-81ZBB-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 2 is that the banking group company is an entity within </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">
<Substitution ChangeId="key-564c67b8771ee144085bcea7d5e080eb-1627552626015" CommentaryRef="key-564c67b8771ee144085bcea7d5e080eb">subsection (2A) of section 81AA</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/4" id="section-81ZBB-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 3 is that the PRA is satisfied that the banking group company is failing or likely to fail.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/5" id="section-81ZBB-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 4 is that the Bank of England is satisfied that, having regard to timing and other relevant circumstances, it is not reasonably likely that (ignoring the stabilisation powers) action will be taken by or in respect of the banking group company that will result in Condition 3 ceasing to be met.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/6" id="section-81ZBB-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 5 is that the power is exercised in connection with the exercise of one or more stabilisation powers in respect of the banking group company otherwise than for the purposes of the third stabilisation option.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/7" id="section-81ZBB-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">7</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 6 is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the public interest in the advancement of one or more of the special resolution objectives.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/8" id="section-81ZBB-8">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">8</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 7 is that the Bank of England is satisfied that one or more of the special resolution objectives would not be met to the same extent by the winding up of the banking group company.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/9/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/9" id="section-81ZBB-9">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">9</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 8 (which applies only in a financial assistance case) is that—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/9/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/9/a" id="section-81ZBB-9-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the Treasury have recommended the Bank of England to exercise a stabilisation power on the grounds that it is necessary to protect the public interest, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/9/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/9/b" id="section-81ZBB-9-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">in the Bank of England’s opinion, exercise of the power in respect of the banking group company is an appropriate way to provide that protection.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/10/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/10" id="section-81ZBB-10">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">10</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Condition 9 is that the Bank of England is satisfied that—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/10/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/10/a" id="section-81ZBB-10-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the situation of the market for the assets which it is proposed to transfer by the exercise of the stabilisation power is of such a nature that the liquidation of those assets under normal insolvency proceedings could have an adverse effect on one or more financial markets,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/10/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/10/b" id="section-81ZBB-10-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the transfer is necessary to ensure the proper functioning of the banking group company from which the transfer is to be made, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/10/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/10/c" id="section-81ZBB-10-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the transfer is necessary to maximise the proceeds available for distribution.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBB/11/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/11" id="section-81ZBB-11">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">11</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">In this section—</Addition>
</Addition>
</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">“financial assistance case” has the meaning given in section 81B(8); </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">
<CommentaryRef Ref="key-b6dc07a8aa212e179e6f8c95bde2a707"/>
...
</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">
<CommentaryRef Ref="key-ab98a91e355c923a95a391979b793bd0"/>
...
</Addition>
</Addition>
</Text>
</Para>
</ListItem>
</UnorderedList>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2024-01-01" RestrictStartDate="2020-12-31" RestrictExtent="E+W+S+N.I.">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Assessment of conditions for section 81ZBB</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC" id="section-81ZBC">
<Pnumber PuncAfter=".">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">81ZBC</Addition>
</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/1" id="section-81ZBC-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">1</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">This section applies for the purposes of section 81ZBB.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/2" id="section-81ZBC-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">2</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">The PRA must treat Condition 3 as met if satisfied that it would be met but for financial assistance provided by—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/2/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/2/a" id="section-81ZBC-2-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the Treasury, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/2/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/2/b" id="section-81ZBC-2-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the Bank of England,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">disregarding ordinary market assistance offered by the Bank of England on its usual terms.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/3" id="section-81ZBC-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">The Bank of England must treat Condition 4 as met if satisfied that it would be met but for financial assistance of the kind mentioned in subsection (2).</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4" id="section-81ZBC-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">For the purposes of Condition 3, a banking group company is failing or likely to fail if—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/a" id="section-81ZBC-4-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">it is contravening or likely to contravene a regulatory requirement where that contravention is serious in nature or directly related to a deterioration in the financial situation of the banking group company which threatens the viability of—</Addition>
</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/a/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/a/i" id="section-81ZBC-4-a-i">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">i</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the banking group company, or</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/a/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/a/ii" id="section-81ZBC-4-a-ii">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">ii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">another undertaking in the same resolution group,</Addition>
</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/b" id="section-81ZBC-4-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">it is failing, or is likely to fail, to meet the approval conditions set out in section 192R(3) to (6) of the Financial Services and Markets Act 2000 in circumstances where that failure—</Addition>
</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/b/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/b/i" id="section-81ZBC-4-b-i">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">i</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">would justify the taking of measures in relation to the company by the PRA under section 192T(1) of that Act, and</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/b/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/b/ii" id="section-81ZBC-4-b-ii">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">ii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">is serious in nature,</Addition>
</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/c" id="section-81ZBC-4-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the value of the assets of the banking group company is less than the amount of its liabilities,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/d" id="section-81ZBC-4-d">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">d</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the banking group company is unable to pay its debts or other liabilities as they fall due,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/e/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/e" id="section-81ZBC-4-e">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">e</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">paragraph (c) or (d) (or both) will, in the near future, apply to the banking group company, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/4/f/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/4/f" id="section-81ZBC-4-f">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">f</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">extraordinary public financial support is required in respect of the banking group company and subsection (5) does not apply to it.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/5" id="section-81ZBC-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">This subsection applies where, in order to remedy a serious disturbance in the economy of the United Kingdom and preserve financial stability, the extraordinary financial support takes any of the following forms—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/5/a" id="section-81ZBC-5-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a State guarantee to back liquidity facilities provided by </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">
<Substitution ChangeId="key-16ba560e28e385d97672c3c9661625e7-1627553847618" CommentaryRef="key-16ba560e28e385d97672c3c9661625e7">the Bank of England</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/5/b" id="section-81ZBC-5-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a State guarantee of newly issued liabilities,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/5/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/5/c" id="section-81ZBC-5-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">an injection of own funds, or purchase of capital instruments, at prices and on terms that do not confer an advantage upon the banking group company, where none of the circumstances referred to in subsection (4)(a), (b), (c), (d) or (e) are present at the time the public support is granted and none of Cases 1 to 4 in section 6A apply.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/6" id="section-81ZBC-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Before determining that Condition 3 is met, the PRA must consult the Bank of England.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/7" id="section-81ZBC-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">7</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Before determining whether or not Conditions 4, 5 and (where applicable) 8 are met, the Bank of England must consult—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/7/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/7/a" id="section-81ZBC-7-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the Treasury,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/7/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/7/b" id="section-81ZBC-7-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the PRA, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/7/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/7/c" id="section-81ZBC-7-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the FCA.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/8" id="section-81ZBC-8">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">8</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Character Name="NonBreakingSpace"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Before determining that Conditions 6 and 7 are met the Bank of England must consult—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/8/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/8/a" id="section-81ZBC-8-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the Treasury,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/8/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/8/b" id="section-81ZBC-8-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the PRA, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/8/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/8/c" id="section-81ZBC-8-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">the FCA.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81ZBC/9/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/9" id="section-81ZBC-9">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">9</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">The special resolution objectives are not relevant to Conditions 3 and 4.</Addition>
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<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">10</Addition>
</Addition>
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<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">In this section “regulatory requirement” means a requirement imposed—</Addition>
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<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">a</Addition>
</Addition>
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<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">by or under the Financial Services and Markets Act 2000,</Addition>
</Addition>
</Text>
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<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">b</Addition>
</Addition>
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<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">by or under the capital requirements regulation </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">
<Addition ChangeId="key-129fe8b6e94ea6f0fbbf57b2ba4cfc4d-1627553928310" CommentaryRef="key-129fe8b6e94ea6f0fbbf57b2ba4cfc4d">including any retained EU law that was originally made under Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms</Addition>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">,</Addition>
</Addition>
</Text>
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<Pnumber>
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<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">c</Addition>
</Addition>
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<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">by any enactment which </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">
<Substitution ChangeId="key-310307b580e6ad64d672195f77cad385-1627553962864" CommentaryRef="key-310307b580e6ad64d672195f77cad385">was relied on by the United Kingdom immediately before IP completion day to implement the capital requirements directive and its implementing measures or any retained EU law originally</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a"> made under that directive, or</Addition>
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<Pnumber>
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<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">d</Addition>
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<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">by the Bank of England under this Act,</Addition>
</Addition>
</Text>
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</P3>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">and for the purposes of this definition, “capital requirements directive” means </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2013/0036" id="c00005" Class="EuropeanUnionDirective" Year="2013" Number="0036">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Directive 2013/36/EU</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a"> of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2002/0087" id="c00006" Class="EuropeanUnionDirective" Year="2002" Number="0087">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">Directive 2002/87/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a"> and repealing Directives </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2006/0048" id="c00007" Class="EuropeanUnionDirective" Year="2006" Number="0048">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">2006/48/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a"> and </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2006/0049" id="c00008" Class="EuropeanUnionDirective" Year="2006" Number="0049">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">2006/49/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-c5fedba836ae069a5aa6de219d0e626a-1618833322044" CommentaryRef="key-c5fedba836ae069a5aa6de219d0e626a">.</Addition>
</Addition>
</Text>
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</P2>
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</P1>
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<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">Bail-in option</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA" id="section-81BA">
<Pnumber PuncAfter="">
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<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">81BA</Addition>
</Addition>
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<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/1" id="section-81BA-1">
<Pnumber>
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<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">1</Addition>
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<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">The Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 12A(2) if the following conditions are met.</Addition>
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</P2>
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<Pnumber>
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<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">2</Substitution>
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<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">Condition 1 is that either—</Substitution>
</Addition>
</Addition>
</Text>
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<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">a</Substitution>
</Addition>
</Addition>
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<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">the PRA is satisfied that Condition 1 of the general conditions is met in respect of a bank in the same group and the Bank of England is satisfied that Conditions 2, 3 and 4 of the general conditions are met in respect of that bank, or</Substitution>
</Addition>
</Addition>
</Text>
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</P3>
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<Pnumber>
<CommentaryRef Ref="key-70e7f3c6d80a6570da58f2ca9ce3bbdc"/>
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<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">b</Substitution>
</Addition>
</Addition>
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<P3para>
<Text>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</Text>
</P3para>
</P3>
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<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">c</Substitution>
</Addition>
</Addition>
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<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">a relevant third-country authority of a third-country institution in the same group is satisfied that any conditions required by the law of the third country to be met before third-country resolution action may be taken are met in relation to that third-country institution.</Substitution>
</Addition>
</Addition>
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<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">2A</Substitution>
</Addition>
</Addition>
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<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">For the purposes of determining if a requirement of Condition 1 is met, the PRA, Bank of England </Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe">
<CommentaryRef Ref="key-ec2f9ee9a484c5da13e75c13a44f6852"/>
...
</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe"/>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe"/>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-e4b12724246dce1a7db094fbc9559dfe-1582824769707" CommentaryRef="key-e4b12724246dce1a7db094fbc9559dfe"> or relevant third-country authority (as the case may be) may ignore any transfer of losses or capital made between members of the group.</Substitution>
</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/3" id="section-81BA-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">Condition 2 is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Substitution ChangeId="key-fca1a1194498d761e05b0682a497636f-1582824862668" CommentaryRef="key-fca1a1194498d761e05b0682a497636f">public interest in the advancement of one or more of the special resolution objectives.</Substitution>
</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/4" id="section-81BA-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">Condition 3 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/5" id="section-81BA-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">Before determining whether Condition 2 is met, and if so how to react, the Bank of England must consult—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/5/a" id="section-81BA-5-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">the Treasury,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/5/b" id="section-81BA-5-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">the PRA, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/5/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/5/c" id="section-81BA-5-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">the FCA.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/6" id="section-81BA-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">In exercising a stabilisation power in reliance on this section the Bank of England must have regard to the need to minimise the effect of the exercise of the power on other undertakings in the same group.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BA/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/7" id="section-81BA-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Addition ChangeId="key-e52bd2f674632d77895a6f24d615a25f-1582824810844" CommentaryRef="key-e52bd2f674632d77895a6f24d615a25f">7</Addition>
</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-13401a4b633c0bf78f63c04790dbe575-1582726753606" CommentaryRef="key-13401a4b633c0bf78f63c04790dbe575">
<Addition ChangeId="key-e52bd2f674632d77895a6f24d615a25f-1582824810844" CommentaryRef="key-e52bd2f674632d77895a6f24d615a25f">The definitions in section 81B(9) apply for the purposes of this section.</Addition>
</Addition>
</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictStartDate="2020-12-31">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Bail-in option: supplemental powers in relation to certain holding companies</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB" id="section-81BB">
<Pnumber PuncAfter=".">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">81BB</Addition>
</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/1" id="section-81BB-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">1</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Without prejudice to the operation of section 81BA, the Bank of England may exercise a stabilisation power in respect of a banking group company in accordance with section 12A(2) if the following conditions are met.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/2" id="section-81BB-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">2</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Condition 1 is that the banking group company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/3" id="section-81BB-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Condition 2 is that the banking group company is an entity within </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">
<Substitution ChangeId="key-8a491af03c1014dfdeb9cb5b0a92e904-1627551371710" CommentaryRef="key-8a491af03c1014dfdeb9cb5b0a92e904">subsection (2A) of section 81AA</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/4" id="section-81BB-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Condition 3 is that the PRA is satisfied that the banking group company is failing or likely to fail.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/5" id="section-81BB-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Condition 4 is that the Bank of England is satisfied that, having regard to timing and other relevant circumstances, it is not reasonably likely that (ignoring the stabilisation powers) action will be taken by or in respect of the banking group company that will result in Condition 3 ceasing to be met.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/6" id="section-81BB-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Condition 5 is that the Bank of England is satisfied that the exercise of the power in respect of the banking group company is necessary, having regard to the public interest in the advancement of one or more of the special resolution objectives.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/7" id="section-81BB-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">7</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Condition 6 is that the Bank of England is satisfied that one or more of the special resolution objectives would not be met to the same extent by the winding up of the banking group company.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BB/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/8" id="section-81BB-8">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">8</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">In exercising a stabilisation power in reliance on this section, the Bank of England must have regard to the need to minimise the effect of the exercise of the power on other undertakings in the same group.</Addition>
</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictEndDate="2024-01-01" RestrictStartDate="2020-12-31" RestrictExtent="E+W+S+N.I.">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Assessment of conditions for section 81BB</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC" id="section-81BC">
<Pnumber PuncAfter=".">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">81BC</Addition>
</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/1" id="section-81BC-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">1</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">This section applies for the purposes of section 81BB.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/2" id="section-81BC-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">2</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">The PRA must treat Condition 3 as met if satisfied that it would be met but for financial assistance provided by—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/2/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/2/a" id="section-81BC-2-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the Treasury, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/2/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/2/b" id="section-81BC-2-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the Bank of England,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">disregarding ordinary market assistance offered by the Bank of England on its usual terms.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/3" id="section-81BC-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">The Bank of England must treat Condition 4 as met if satisfied that it would be met but for financial assistance of the kind mentioned in subsection (2).</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4" id="section-81BC-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">For the purposes of Condition 3, a banking group company is failing or likely to fail if—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/a" id="section-81BC-4-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">it is contravening or likely to contravene a regulatory requirement where that contravention is serious in nature or directly related to a deterioration in the financial situation of the banking group company which threatens the viability of—</Addition>
</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/a/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/a/i" id="section-81BC-4-a-i">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">i</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the banking group company, or</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/a/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/a/ii" id="section-81BC-4-a-ii">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">ii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">another undertaking in the same resolution group,</Addition>
</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/b" id="section-81BC-4-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">it is failing, or is likely to fail, to satisfy the approval conditions set out in section 192R(3) to (6) of the Financial Services and Markets Act 2000 in circumstances where that failure—</Addition>
</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/b/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/b/i" id="section-81BC-4-b-i">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">i</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">would justify the taking of measures in relation to the company by the PRA under section 192T(1) of that Act, and</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/b/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/b/ii" id="section-81BC-4-b-ii">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">ii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">is serious in nature,</Addition>
</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/c" id="section-81BC-4-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the value of the assets of the banking group company is less than the amount of its liabilities,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/d" id="section-81BC-4-d">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">d</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the banking group company is unable to pay its debts or other liabilities as they fall due,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/e/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/e" id="section-81BC-4-e">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">e</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">paragraph (c) or (d) (or both) will, in the near future, apply to the banking group company, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/4/f/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/4/f" id="section-81BC-4-f">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">f</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">extraordinary public financial support is required in respect of the banking group company and subsection (5) does not apply to it.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/5" id="section-81BC-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">This subsection applies where, in order to remedy a serious disturbance in the economy of the United Kingdom and preserve financial stability, the extraordinary financial support takes any of the following forms—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/5/a" id="section-81BC-5-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">a State guarantee to back liquidity facilities provided by </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">
<Substitution ChangeId="key-d7148d59860865803f327998bdcab895-1627551626655" CommentaryRef="key-d7148d59860865803f327998bdcab895">the Bank of England</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/5/b" id="section-81BC-5-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">a State guarantee of newly issued liabilities,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/5/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/5/c" id="section-81BC-5-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">an injection of own funds, or purchase of capital instruments, at prices and on terms that do not confer an advantage upon the banking group company, where none of the circumstances referred to in subsection (4)(a), (b), (c), (d) or (e) are present at the time the public support is granted and none of Cases 1 to 4 in section 6A apply.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/6" id="section-81BC-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Before determining that Condition 3 is met, the PRA must consult the Bank of England.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/7" id="section-81BC-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">7</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Before determining whether or not Condition 4 is met, the Bank of England must consult—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/7/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/7/a" id="section-81BC-7-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the Treasury,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/7/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/7/b" id="section-81BC-7-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the PRA, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/7/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/7/c" id="section-81BC-7-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the FCA.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/8" id="section-81BC-8">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">8</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Before determining that Conditions 5 and 6 are met the Bank of England must consult—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/8/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/8/a" id="section-81BC-8-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the Treasury,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/8/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/8/b" id="section-81BC-8-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the PRA, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/8/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/8/c" id="section-81BC-8-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">the FCA.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/9/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/9" id="section-81BC-9">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">9</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">The special resolution objectives are not relevant to Conditions 3 and 4.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/10/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/10" id="section-81BC-10">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">10</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">In this section “regulatory requirement” means a requirement imposed—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/10/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/10/a" id="section-81BC-10-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">by or under the Financial Services and Markets Act 2000,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/10/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/10/b" id="section-81BC-10-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">by or under the capital requirements regulation </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">
<Addition ChangeId="key-edff9230c138849ae514289c23aa3719-1627551678469" CommentaryRef="key-edff9230c138849ae514289c23aa3719">including any retained EU law that was originally made under Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms</Addition>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/10/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/10/c" id="section-81BC-10-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">by any enactment which </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">
<Substitution ChangeId="key-f4bdbfd3bdd29e46f975935dab0d7689-1627551724570" CommentaryRef="key-f4bdbfd3bdd29e46f975935dab0d7689">was relied on by the United Kingdom immediately before IP completion day to implement the capital requirements directive and its implementing measures or any retained EU law originally</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c"> made under that directive, or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81BC/10/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/10/d" id="section-81BC-10-d">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">d</Addition>
</Addition>
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<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">by the Bank of England under this Act,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">and for the purposes of this definition, “capital requirements directive” means </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2013/0036" id="c00009" Class="EuropeanUnionDirective" Year="2013" Number="0036">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Directive 2013/36/EU</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c"> of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2002/0087" id="c00010" Class="EuropeanUnionDirective" Year="2002" Number="0087">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">Directive 2002/87/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c"> and repealing Directives </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2006/0048" id="c00011" Class="EuropeanUnionDirective" Year="2006" Number="0048">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">2006/48/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c"> and </Addition>
</Addition>
<Citation URI="http://www.legislation.gov.uk/id/eudr/2006/0049" id="c00012" Class="EuropeanUnionDirective" Year="2006" Number="0049">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">2006/49/EC</Addition>
</Addition>
</Citation>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-739dc30b68d7fa80dfe9be682b252a6c-1618830584529" CommentaryRef="key-739dc30b68d7fa80dfe9be682b252a6c">.</Addition>
</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictStartDate="2020-12-28">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-d9dd5eaf619a27cda1f8d35af008c4cd-1618830491229" CommentaryRef="key-d9dd5eaf619a27cda1f8d35af008c4cd">Sections 81AA to 81ZBB: supplemental</Substitution>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C" id="section-81C">
<Pnumber PuncAfter="">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">81C</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1" id="section-81C-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">1</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">In the following provisions references to banks include references to banking group companies—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1/a" id="section-81C-1-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">section 10(1), </Addition>
<CommentaryRef Ref="key-d52f33142bf0c832bf0efdfff901093f"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">...</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1/aa/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1/aa" id="section-81C-1-aa">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8114f00f52830adf88b46b6a66ade807-1582821356317" CommentaryRef="key-8114f00f52830adf88b46b6a66ade807">aa</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-8114f00f52830adf88b46b6a66ade807-1582821356317" CommentaryRef="key-8114f00f52830adf88b46b6a66ade807">section 48Z, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1/b" id="section-81C-1-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">section 75(5)(a).</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1A/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1A" id="section-81C-1A">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">1A</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">Where section 6B applies to a banking group company by virtue of section 81AA, sections 6B to 6D apply with the following modifications—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1A/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1A/a" id="section-81C-1A-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">references to the bank are to be read as references to the banking group company,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1A/aa/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1A/aa" id="section-81C-1A-aa">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-397b4a4d2556e82534d62a3fccf4ab9e-1618910407699" CommentaryRef="key-397b4a4d2556e82534d62a3fccf4ab9e">aa</Addition>
</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-397b4a4d2556e82534d62a3fccf4ab9e-1618910407699" CommentaryRef="key-397b4a4d2556e82534d62a3fccf4ab9e">where Case 4 in section 81AA applies, section 6B(2) is to be read as providing that “the mandatory reduction provision” is provision which, together with the mandatory reduction provision made in respect of any other subsidiary of the resolution entity that is in the same resolution group as the banking group company, produces the results referred to in subsection (1AA) of this section,</Addition>
</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1A/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1A/b" id="section-81C-1A-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">in section 6B, in subsection (8) the reference to section 6A is to be read as a reference to section 81AA and subsection (9) is to be ignored,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1A/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1A/c" id="section-81C-1A-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">in sections 6B and 6C references, which (by virtue of paragraph (a)) are read as references to a </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">UK</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1"> parent undertaking of a banking group company, include, where the banking group company satisfied section 81D(1)(a) by reference to a bank which is not a </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">UK</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1"> parent undertaking of the banking group company, a reference to that bank,</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1A/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1A/d" id="section-81C-1A-d">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">d</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">for the purposes of section 6D, references to a bank in sections 48L(3), 48O and 48T are to be read as references to the banking group company, and, where the banking group company satisfied section 81D(1)(a) by reference to a bank (“the failing bank”), those references to a bank (except the first reference in section 48T(1)) are also to be read as including a reference to the failing bank.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1AA/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1AA" id="section-81C-1AA">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-113c4797524b3c94f39ad715b30d379d-1618910440853" CommentaryRef="key-113c4797524b3c94f39ad715b30d379d">1AA</Addition>
</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-113c4797524b3c94f39ad715b30d379d-1618910440853" CommentaryRef="key-113c4797524b3c94f39ad715b30d379d">The results are that—</Addition>
</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1AA/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1AA/a" id="section-81C-1AA-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-113c4797524b3c94f39ad715b30d379d-1618910440853" CommentaryRef="key-113c4797524b3c94f39ad715b30d379d">a</Addition>
</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-113c4797524b3c94f39ad715b30d379d-1618910440853" CommentaryRef="key-113c4797524b3c94f39ad715b30d379d">the principal amount of the relevant capital instruments or relevant internal liabilities of the banking group company is reduced, or</Addition>
</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1AA/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1AA/b" id="section-81C-1AA-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-113c4797524b3c94f39ad715b30d379d-1618910440853" CommentaryRef="key-113c4797524b3c94f39ad715b30d379d">b</Addition>
</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-113c4797524b3c94f39ad715b30d379d-1618910440853" CommentaryRef="key-113c4797524b3c94f39ad715b30d379d">such instruments or liabilities of the banking group company are converted (directly or indirectly) into Common Equity Tier 1 instruments,</Addition>
</Addition>
</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">
<Addition ChangeId="key-113c4797524b3c94f39ad715b30d379d-1618910440853" CommentaryRef="key-113c4797524b3c94f39ad715b30d379d">(or both (a) and (b)) in accordance with the principle that losses of the bank referred to in relation to that banking group company in section 81AA(8A)(a) are effectively passed on to, and the bank is recapitalised by, the resolution entity that is in the same resolution group as the banking group company.</Addition>
</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/1B/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/1B" id="section-81C-1B">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">1B</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-496b3acc541e999379e261af70459bc1-1582821250985" CommentaryRef="key-496b3acc541e999379e261af70459bc1">Where the Bank of England makes a mandatory reduction instrument in respect of a banking group company, section 6E applies (with any necessary modifications) as if the banking group company were a bank.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/2" id="section-81C-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">2</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Where the Bank of England exercises a stabilisation power in respect of a banking group company in reliance on section 81B </Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-dc0fa706a6691fa196964a80c7ac594a-1618910654254" CommentaryRef="key-dc0fa706a6691fa196964a80c7ac594a">, 81ZZBA, 81ZBA or 81ZBB</Substitution>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">, the provisions relating to the stabilisation powers and the bank administration procedure contained in this Act (except sections 7 </Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-51662c69a72db365659f29d2ac7c0c44-1582821445877" CommentaryRef="key-51662c69a72db365659f29d2ac7c0c44">, 8 and 8ZA</Substitution>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">) and any other enactment apply (with any necessary modifications) as if the banking group company were a bank.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81C/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81C/3" id="section-81C-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">3</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">For the purposes of the application of section 143 (grounds for applying for bank administration order), the reference in subsection (2) to the Bank of England exercising a stabilisation power includes a case where the Bank of England intends to exercise such a power.</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictStartDate="2020-12-31">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">Section 81BA </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Addition ChangeId="key-eee37fc200ab7996e9da33749a2f0cec-1618828540554" CommentaryRef="key-eee37fc200ab7996e9da33749a2f0cec">and Section 81BB</Addition>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">: supplemental</Addition>
</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA" id="section-81CA">
<Pnumber PuncAfter="">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">81CA</Addition>
</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/1" id="section-81CA-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">1</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">This section applies where the Bank of England has power under section 81BA </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Addition ChangeId="key-8695ee93ed45b46a977711a78dcbdc1c-1618911519887" CommentaryRef="key-8695ee93ed45b46a977711a78dcbdc1c">or section 81BB</Addition>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0"> to exercise a stabilisation power in respect of a banking group company.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/2" id="section-81CA-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">2</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">The provisions relating to the stabilisation powers and the bank administration procedure contained in this Act (except </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Substitution ChangeId="key-203668f41fe59bb887dac4abb7a722dc-1582825085795" CommentaryRef="key-203668f41fe59bb887dac4abb7a722dc">section 7</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">) and any other enactment apply (with any necessary modifications) as if the banking group company were a bank.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/3" id="section-81CA-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">3</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">Where the banking group company mentioned in subsection (1) is a parent undertaking of the bank mentioned in section 81BA(2) (“</Addition>
</Addition>
<Term>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">the bank</Addition>
</Addition>
</Term>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">”)—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/3/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/3/a" id="section-81CA-3-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">the provisions in this Act relating to resolution instruments are to be read in accordance with the general rule in subsection (4), but</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/3/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/3/b" id="section-81CA-3-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">that is subject to the modifications in subsection (5);</Addition>
</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">and provisions in this Act and any other enactment are to be read with any modifications that may be necessary as a result of paragraphs (a) and (b).</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/4" id="section-81CA-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">4</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">The general rule is that the provisions in this Act relating to resolution instruments (including supplemental resolution instruments) are to be read (so far as the context permits)—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/4/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/4/a" id="section-81CA-4-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">as applying in relation to the bank as they apply in relation to the parent undertaking, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/4/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/4/b" id="section-81CA-4-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">so, in particular, as allowing any provision that may be made in a resolution instrument in relation to the parent undertaking to be made (also or instead) in relation to the bank.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/5" id="section-81CA-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">5</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">Where the banking group company mentioned in subsection (1) is a parent undertaking of the bank </Addition>
</Addition>
<CommentaryRef Ref="key-615424d92c99c03d1a4bac9f8508a0dd"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Substitution ChangeId="key-17c950d696572794f1785579a8ebc1da-1582825150055" CommentaryRef="key-17c950d696572794f1785579a8ebc1da">...</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Substitution ChangeId="key-17c950d696572794f1785579a8ebc1da-1582825150055" CommentaryRef="key-17c950d696572794f1785579a8ebc1da"> or third-country institution mentioned in section 81BA(2) (“</Substitution>
</Addition>
</Addition>
<Term>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Substitution ChangeId="key-17c950d696572794f1785579a8ebc1da-1582825150055" CommentaryRef="key-17c950d696572794f1785579a8ebc1da">the group entity</Substitution>
</Addition>
</Addition>
</Term>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Substitution ChangeId="key-17c950d696572794f1785579a8ebc1da-1582825150055" CommentaryRef="key-17c950d696572794f1785579a8ebc1da">”)</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0"></Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/5/a" id="section-81CA-5-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">section 41A (transfer of property subsequent to resolution instrument) applies as if the reference in subsection (2) to the bank were to the parent undertaking, the bank and any other bank which is or was in the same group;</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/5/b" id="section-81CA-5-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">section 48V (onward transfer)—</Addition>
</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/5/b/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/5/b/i" id="section-81CA-5-b-i">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">i</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">applies as if the references in subsection (3) to “the bank” </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Substitution ChangeId="key-489e119b8b466c42b736599556a84928-1582825209818" CommentaryRef="key-489e119b8b466c42b736599556a84928">included the group entity,</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0"> the parent undertaking and any other bank which is or was in the same group, and with the omission of subsection (4) of that section, and</Addition>
</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/5/b/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/5/b/ii" id="section-81CA-5-b-ii">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">ii</Addition>
</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">is to be read as permitting the transfer of securities only if they are held by (or for the benefit of) the parent undertaking or a subsidiary company of the parent undertaking;</Addition>
</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/5/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/5/c" id="section-81CA-5-c">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">c</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">section 48W (reverse transfer) applies as if the references in subsections (2) and (3) to “the bank” </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">
<Substitution ChangeId="key-4478161b7215040f83163154e2fd0f01-1582825261220" CommentaryRef="key-4478161b7215040f83163154e2fd0f01">included the group entity,</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0"> the parent undertaking and any other bank which is or was in the same group.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/6" id="section-81CA-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">6</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">Where section 48B (special bail-in provision) applies in accordance with subsection (4) (so that section 48B applies in relation to the bank mentioned in section 81BA(2) as it applies in relation to the parent undertaking mentioned in subsection (3)), the provision that may be made in accordance with section 48B(1)(b) (see also rule 3(a) and (b) of section 48B(5)) includes provision replacing a liability (of any form) of that bank with a security (of any form or class) of the parent undertaking.</Addition>
</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/7" id="section-81CA-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">7</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">Where the banking group company mentioned in subsection (1) is a parent undertaking of the bank mentioned in section 81BA(2)—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/7/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/7/a" id="section-81CA-7-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">section 214B of the Financial Services and Markets Act 2000 (contribution to costs of special resolution regime) applies, and</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81CA/7/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81CA/7/b" id="section-81CA-7-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-671fed25cd43d5561616bb491ff1c5b0-1582726802746" CommentaryRef="key-671fed25cd43d5561616bb491ff1c5b0">the reference in subsection (1)(b) of that section to the bank, and later references in that section, are treated as including references to any other bank which is a subsidiary undertaking of the parent undertaking (but not the parent undertaking itself).</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group ConfersPower="true" RestrictExtent="E+W+S+N.I." RestrictStartDate="2020-12-31">
<Title>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Interpretation: “banking group company” &c.</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D" id="section-81D">
<Pnumber PuncAfter="">
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">81D</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/1" id="section-81D-1">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">1</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">In this Part “</Addition>
<Term>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">banking group company</Addition>
</Term>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">” means an undertaking—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/1/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/1/a" id="section-81D-1-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">which is (or, but for the exercise of a stabilisation power, would be) in the same group as a bank </Addition>
<CommentaryRef Ref="key-af175bf18c053d7b56b43a91e0c1ffcb"/>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-599074cabc855f94d1ffdecabfbb35bf-1582825618610" CommentaryRef="key-599074cabc855f94d1ffdecabfbb35bf">... or third-country institution (within the meaning of section </Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-599074cabc855f94d1ffdecabfbb35bf-1582825618610" CommentaryRef="key-599074cabc855f94d1ffdecabfbb35bf">
<Substitution ChangeId="key-f298e2a630034a1fbd1b44d65621f0a8-1627552157564" CommentaryRef="key-f298e2a630034a1fbd1b44d65621f0a8">81AA(14)</Substitution>
</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Addition ChangeId="key-599074cabc855f94d1ffdecabfbb35bf-1582825618610" CommentaryRef="key-599074cabc855f94d1ffdecabfbb35bf">)</Addition>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/1/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/1/b" id="section-81D-1-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">in respect of which any conditions specified in an order made by the Treasury are met.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/2" id="section-81D-2">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">2</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">An order may require the Bank of England to consult specified persons before determining whether the conditions are met.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/3" id="section-81D-3">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">3</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">An order—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/3/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/3/a" id="section-81D-3-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">is to be made by statutory instrument, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/3/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/3/b" id="section-81D-3-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/4" id="section-81D-4">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">4</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">If an order contains a statement that the Treasury are of the opinion that, by reason of urgency, it is necessary to make the order without complying with subsection (3)(b)—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/4/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/4/a" id="section-81D-4-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">the order may be made, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/4/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/4/b" id="section-81D-4-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">the order lapses unless approved by resolution of each House of Parliament during the period of 28 days (ignoring periods of dissolution, prorogation or adjournment of either House for more than 4 days) beginning with the day on which the order is made.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/5" id="section-81D-5">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">5</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">The lapse of an order under subsection (4)(b)—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/5/a" id="section-81D-5-a">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">does not invalidate anything done under or in reliance on the order before the lapse and at a time when neither House has declined to approve the order, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/5/b" id="section-81D-5-b">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">does not prevent the making of a new order (in new terms).</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/6" id="section-81D-6">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">6</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Undertakings are in the same group for the purposes of sections </Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-d61c11c98bffb5574a20d9c8bde558db-1582825678843" CommentaryRef="key-d61c11c98bffb5574a20d9c8bde558db">81AA to 81CA</Substitution>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"> and this section if they are group undertakings in respect of each other.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/81D/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81D/7" id="section-81D-7">
<Pnumber>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">7</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">Expressions defined in the Companies Act 2006 have the same meaning in </Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f">
<Substitution ChangeId="key-8ad18992ddedda09c1e01d2096d1feca-1582716757275" CommentaryRef="key-8ad18992ddedda09c1e01d2096d1feca">sections 81B to 81CA</Substitution>
</Addition>
<Addition ChangeId="key-33299aeffe1d40c097ee52b7925ffb5f-1579865115981" CommentaryRef="key-33299aeffe1d40c097ee52b7925ffb5f"> and this section as in that Act.</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictStartDate="2013-04-01">
<Title>Temporary public ownership</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82" id="section-82">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-d7dd1c419db20296a058b0a99e4e3f6e"/>
82
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/1" id="section-82-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Treasury may take a parent undertaking of a bank (the “holding company”) into temporary public ownership, in accordance with section 13(2), if the following conditions are met.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/2" id="section-82-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>
Condition 1 is that
<Substitution ChangeId="key-da9a1fc529c91549bbae3efb883f65e6-1551784999846" CommentaryRef="key-da9a1fc529c91549bbae3efb883f65e6">the PRA is</Substitution>
satisfied that the general conditions for the exercise of a stabilisation power set out in section 7 are met in respect of the bank.
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/3" id="section-82-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Condition 2 is that the Treasury are satisfied that it is necessary to take action in respect of the holding company for the purpose specified in Condition A or B of section 9.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/4" id="section-82-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>Condition 3 is that the holding company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/5" id="section-82-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>Before determining whether Condition 2 is met the Treasury must consult—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/5/a" id="section-82-5-a">
<Pnumber>
<Substitution ChangeId="key-e29d43279b7404b76eb013a6cfcaf1ea-1551785039056" CommentaryRef="key-e29d43279b7404b76eb013a6cfcaf1ea">a</Substitution>
</Pnumber>
<P3para>
<Text>
<Substitution ChangeId="key-e29d43279b7404b76eb013a6cfcaf1ea-1551785039056" CommentaryRef="key-e29d43279b7404b76eb013a6cfcaf1ea">the PRA,</Substitution>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/5/aa/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/5/aa" id="section-82-5-aa">
<Pnumber>
<Substitution ChangeId="key-e29d43279b7404b76eb013a6cfcaf1ea-1551785039056" CommentaryRef="key-e29d43279b7404b76eb013a6cfcaf1ea">aa</Substitution>
</Pnumber>
<P3para>
<Text>
<Substitution ChangeId="key-e29d43279b7404b76eb013a6cfcaf1ea-1551785039056" CommentaryRef="key-e29d43279b7404b76eb013a6cfcaf1ea">the FCA, and</Substitution>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/5/b" id="section-82-5-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the Bank of England.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/82/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/82/6" id="section-82-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>Expressions used in this section have the same meaning as in the Companies Act 2006.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group ConfersPower="true" RestrictExtent="E+W+S+N.I." RestrictStartDate="2015-01-01">
<Title>Supplemental</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83" id="section-83">
<Pnumber PuncAfter="">
<CommentaryRef Ref="key-9d8478ae3de89a7fdb2908b1884a9950"/>
83
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/1/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/1" id="section-83-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>In the following provisions references to banks include references to holding companies—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/1/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/1/a" id="section-83-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>section 10(1),</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/1/aa/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/1/aa" id="section-83-1-aa">
<Pnumber>
<Addition ChangeId="key-f3808a6f890cccf51e9b03fe8b09cc3f-1582825769717" CommentaryRef="key-f3808a6f890cccf51e9b03fe8b09cc3f">aa</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-f3808a6f890cccf51e9b03fe8b09cc3f-1582825769717" CommentaryRef="key-f3808a6f890cccf51e9b03fe8b09cc3f">section 12ZA(2)(c),</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/1/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/1/b" id="section-83-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>section 13(3),</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/1/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/1/c" id="section-83-1-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>section 16(1), and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/1/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/1/d" id="section-83-1-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>section 75(5)(a).</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2" id="section-83-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Where the Treasury take a bank's holding company into temporary public ownership in reliance on section 82—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/a" id="section-83-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>section 20(2) applies to (i) directors of the holding company, (ii) directors of the bank, and (iii) directors of a bank in the same group,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/b" id="section-83-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>section 25(2) applies as if references to a bank were references to a holding company,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/c" id="section-83-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>sections 27 to 29 apply as if references to a bank were references to a holding company,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/d/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/d" id="section-83-2-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>a share transfer may be made in respect of securities which were issued by the bank or by another bank which is or was in the same group; and a transfer—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/d/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/d/i" id="section-83-2-d-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>shall be made by onward share transfer order under section 28 or by reverse share transfer order under section 29 (in addition to any that may be made under those sections as applied by paragraph (c) above),</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/d/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/d/ii" id="section-83-2-d-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>may be made under section 28 only in respect of securities held by (or for the benefit of) the holding company or a subsidiary undertaking of the holding company,</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/d/iii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/d/iii" id="section-83-2-d-iii">
<Pnumber>iii</Pnumber>
<P4para>
<Text>
is not subject to section 28(4),
<Addition ChangeId="key-ad3238ee542e391d7756a02894d44825-1551785174676" CommentaryRef="key-ad3238ee542e391d7756a02894d44825">and</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/d/iv/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/d/iv" id="section-83-2-d-iv">
<Pnumber>
<Substitution ChangeId="key-8eda7eec19bae06006851c7365d8aa64-1551785234071" CommentaryRef="key-8eda7eec19bae06006851c7365d8aa64">iv</Substitution>
</Pnumber>
<P4para>
<Text>
<Substitution ChangeId="key-8eda7eec19bae06006851c7365d8aa64-1551785234071" CommentaryRef="key-8eda7eec19bae06006851c7365d8aa64">is not subject to the restriction in section 29(3) that the securities issued by the bank were transferred under the original order (as defined in section 29(1)).</Substitution>
</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/e/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/e" id="section-83-2-e">
<Pnumber>e</Pnumber>
<P3para>
<Text>section 45 applies as if—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/e/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/e/i" id="section-83-2-e-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>the reference to a bank in subsection (1) were a reference to a holding company, and</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/e/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/e/ii" id="section-83-2-e-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>a reference to the bank in subsection (3) were a reference to the holding company, the bank and any other bank which is or was in the same group,</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/f/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/f" id="section-83-2-f">
<Pnumber>f</Pnumber>
<P3para>
<Text>sections 65 to 68 apply, with—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/f/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/f/i" id="section-83-2-f-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>references to the bank or the transferred bank taken as references to the bank, the holding company and any other bank which is or was in the same group, and</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/f/ii/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/f/ii" id="section-83-2-f-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>references to securities of the bank taken as including references to securities of the holding company (so that, in particular, sections 65(1)(a)(ii) and 68(1)(a) include references to the earlier transfer of securities issued by the holding company),</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/g/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/g" id="section-83-2-g">
<Pnumber>g</Pnumber>
<P3para>
<Text>other provisions of this Act about share transfer orders apply with any necessary modifications,</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/h/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/h" id="section-83-2-h">
<Pnumber>h</Pnumber>
<P3para>
<Text>
section 214B of the Financial Services and Markets Act 2000 applies (contribution to costs of special resolution regime
<CommentaryRef Ref="key-9b326bd62ee99dde2a6a885e80d2a7ea"/>
...), and
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/2/i/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/2/i" id="section-83-2-i">
<Pnumber>i</Pnumber>
<P3para>
<Text>the reference in section 214B(1)(b) to the bank, and later references in the section, are treated as including references to any other bank which is also a subsidiary undertaking of the holding company (but not to the holding company itself).</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/3" id="section-83-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>A reference in this Act or another enactment to a share transfer order in respect of securities issued by a bank includes (so far as the context permits) a reference to a share transfer order in respect of securities issued by a holding company.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/4" id="section-83-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>In so far as sections 47 and 60 apply in relation to orders treated as property transfer instruments by virtue of section 45(5)(b) or 46(5)(b) (including those sections as applied by virtue of subsection (2) above) the reference in section 47(1) to the property of a bank includes a reference to the property of a holding company and of any other bank which is or was in the same group.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/5" id="section-83-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>Expressions used in this section have the same meaning as in the Companies Act 2006.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/83/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/83/6" id="section-83-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>A reference to two banks being in the same group is a reference to their being group undertakings in respect of each other.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
</Chapter>
</Part>
</Body>
</Primary>
<Commentaries>
<Commentary id="key-08ec4ed10580aef21e74348c4adc5309" Type="F">
<Para>
<Text>
S. 81ZBA inserted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="corhtkk83-00301" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="corhtkk83-00302" CitationRef="corhtkk83-00301" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="corhtkk83-00303" CitationRef="corhtkk83-00301" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/91" SectionRef="article-91" Operative="true">91</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-113c4797524b3c94f39ad715b30d379d" Type="F">
<Para>
<Text>
S. 81C(1AA) inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c4lt0w4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c4lt0w4-00008" CitationRef="c5c4lt0w4-00007" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c4lt0w4-00009" CitationRef="c5c4lt0w4-00007" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/18/b" SectionRef="regulation-18-b" Operative="true">18(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-129fe8b6e94ea6f0fbbf57b2ba4cfc4d" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b2p5h34-00015" SectionRef="section-81ZBC-10-b" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/10/b">s. 81ZBC(10)(b)</CitationSubRef>
inserted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b2p5h34-00016" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b2p5h34-00017" CitationRef="c9b2p5h34-00016" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b2p5h34-00018" CitationRef="c9b2p5h34-00016" SectionRef="regulation-68-b-i" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/68/b/i" Operative="true">68(b)(i)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-13401a4b633c0bf78f63c04790dbe575" Type="F">
<Para>
<Text>
S. 81BA inserted (31.12.2014) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2013/33" id="copnp3bs3-00088" Class="UnitedKingdomPublicGeneralAct" Year="2013" Number="33" Title="Financial Services (Banking Reform) Act 2013">Financial Services (Banking Reform) Act 2013 (c. 33)</Citation>
,
<CitationSubRef id="copnp3bs3-00089" CitationRef="copnp3bs3-00088" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/section/148/5" SectionRef="section-148-5">s. 148(5)</CitationSubRef>
,
<CitationSubRef id="copnp3bs3-00090" CitationRef="copnp3bs3-00088" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/2/paragraph/7/1" SectionRef="schedule-2-paragraph-7-1" Operative="true">Sch. 2 para. 7(1)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3160" id="copnp3bs3-00091" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3160" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 7) Order 2014">S.I. 2014/3160</Citation>
,
<CitationSubRef id="copnp3bs3-00092" CitationRef="copnp3bs3-00091" URI="http://www.legislation.gov.uk/id/uksi/2014/3160/article/2/1/b" SectionRef="article-2-1-b">art. 2(1)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-1662d027e9adcd95b20c8cc2c33a0290" Type="F">
<Para>
<Text>
S. 82 cross-heading substituted (1.8.2014) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2012/21" id="coh3sfcb3-00048" Class="UnitedKingdomPublicGeneralAct" Year="2012" Number="21" Title="Financial Services Act 2012">Financial Services Act 2012 (c. 21)</Citation>
,
<CitationSubRef id="coh3sfcb3-00049" CitationRef="coh3sfcb3-00048" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/100/5" SectionRef="section-100-5" Operative="true">ss. 100(5)</CitationSubRef>
,
<CitationSubRef id="coh3sfcb3-00050" CitationRef="coh3sfcb3-00048" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/122/3" SectionRef="section-122-3">122(3)</CitationSubRef>
(with
<CitationSubRef id="coh3sfcb3-00051" CitationRef="coh3sfcb3-00048" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/schedule/20" SectionRef="schedule-20">Sch. 20</CitationSubRef>
);
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/1847" id="coh3sfcb3-00052" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="1847" Title="The Financial Services Act 2012 (Commencement No. 5) Order 2014">S.I. 2014/1847</Citation>
,
<CitationSubRef id="coh3sfcb3-00053" CitationRef="coh3sfcb3-00052" URI="http://www.legislation.gov.uk/id/uksi/2014/1847/article/2" SectionRef="article-2">art. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-16ba560e28e385d97672c3c9661625e7" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b2p5h34-00006" SectionRef="section-81ZBC-5-a" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/5/a">s. 81ZBC(5)(a)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b2p5h34-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b2p5h34-00008" CitationRef="c9b2p5h34-00007" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b2p5h34-00009" CitationRef="c9b2p5h34-00007" SectionRef="regulation-68-a" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/68/a" Operative="true">68(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-17c950d696572794f1785579a8ebc1da" Type="F">
<Para>
<Text>
Words in s. 81CA(5) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cora8z973-00016" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cora8z973-00017" CitationRef="cora8z973-00016" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cora8z973-00018" CitationRef="cora8z973-00016" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/94/3/a" SectionRef="article-94-3-a" Operative="true">94(3)(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-1a1b992d500d3d0cbf2c49bfa43b764a" Type="F">
<Para>
<Text>
S. 81AA(8A) inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c3rx3b4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c3rx3b4-00008" CitationRef="c5c3rx3b4-00007" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c3rx3b4-00009" CitationRef="c5c3rx3b4-00007" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/13/c" SectionRef="regulation-13-c" Operative="true">13(c)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-1c155c1c065efd3a208b35c45872a30f" Type="F">
<Para>
<Text>
Words in s. 81AA(14) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00113" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00114" CitationRef="c9azoprf4-00113" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00115" CitationRef="c9azoprf4-00113" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/10/a" SectionRef="schedule-1-paragraph-29-10-a" Operative="true">Sch. 1 para. 29(10)(a)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00116" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00117" CitationRef="c9azoprf4-00116" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-203668f41fe59bb887dac4abb7a722dc" Type="F">
<Para>
<Text>
Words in s. 81CA(2) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cora8z973-00007" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cora8z973-00008" CitationRef="cora8z973-00007" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cora8z973-00009" CitationRef="cora8z973-00007" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/94/2" SectionRef="article-94-2" Operative="true">94(2)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-25ac6af913ac52c2e53fbf7a2f81ffeb" Type="C">
<Para>
<Text>
S. 81B modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5armwja4-00630" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5armwja4-00631" CitationRef="c5armwja4-00630" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/4" SectionRef="regulation-1-4">regs. 1(4)</CitationSubRef>
,
<CitationSubRef id="c5armwja4-00632" CitationRef="c5armwja4-00630" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/92/1" SectionRef="regulation-92-1" Operative="true">92(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-26feb648afeb1300a36a77ead93b4741" Type="F">
<Para>
<Text>
Words in s. 81AA(2)(c)(i) substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00029" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00030" CitationRef="c9azoprf4-00029" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00031" CitationRef="c9azoprf4-00029" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/2/a" SectionRef="schedule-1-paragraph-29-2-a" Operative="true">Sch. 1 para. 29(2)(a)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00032" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00033" CitationRef="c9azoprf4-00032" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-27552da841acd6b631430b9972b1996d" Type="F">
<Para>
<Text>
Words in s. 81AA(8)(b) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00018" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00019" CitationRef="c9azoprf4-00018" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00020" CitationRef="c9azoprf4-00018" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/7" SectionRef="schedule-1-paragraph-29-7" Operative="true">Sch. 1 para. 29(7)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00021" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00022" CitationRef="c9azoprf4-00021" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-2bf3e46b0aea3f30605136b17811695e" Type="F">
<Para>
<Text>
S. 81B(2)(2A) substituted for s. 81B(2) (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cor9y9pi3-00009" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cor9y9pi3-00010" CitationRef="cor9y9pi3-00009" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cor9y9pi3-00011" CitationRef="cor9y9pi3-00009" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/90/2" SectionRef="article-90-2" Operative="true">90(2)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-310307b580e6ad64d672195f77cad385" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b2p5h34-00024" SectionRef="section-81ZBC-10-c" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBC/10/c">s. 81ZBC(10)(c)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b2p5h34-00025" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b2p5h34-00026" CitationRef="c9b2p5h34-00025" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b2p5h34-00027" CitationRef="c9b2p5h34-00025" SectionRef="regulation-68-b-ii" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/68/b/ii" Operative="true">68(b)(ii)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-33299aeffe1d40c097ee52b7925ffb5f" Type="F">
<Para>
<Text>
Ss. 81B-81D inserted (5.6.2014 for specified purposes, 1.8.2014 in so far as not already in force) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2012/21" id="coe6z0rm3-00010" Class="UnitedKingdomPublicGeneralAct" Year="2012" Number="21" Title="Financial Services Act 2012">Financial Services Act 2012 (c. 21)</Citation>
,
<CitationSubRef id="coe6z0rm3-00011" CitationRef="coe6z0rm3-00010" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/100/5" SectionRef="section-100-5" Operative="true">ss. 100(5)</CitationSubRef>
,
<CitationSubRef id="coe6z0rm3-00012" CitationRef="coe6z0rm3-00010" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/122/3" SectionRef="section-122-3">122(3)</CitationSubRef>
(with
<CitationSubRef id="coe6z0rm3-00013" CitationRef="coe6z0rm3-00010" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/schedule/20" SectionRef="schedule-20">Sch. 20</CitationSubRef>
);
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/1447" id="coe6z0rm3-00014" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="1447" Title="The Financial Services Act 2012 (Commencement No. 4) Order 2014">S.I. 2014/1447</Citation>
,
<CitationSubRef id="coe6z0rm3-00015" CitationRef="coe6z0rm3-00014" URI="http://www.legislation.gov.uk/id/uksi/2014/1447/article/2/b" SectionRef="article-2-b">art. 2(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/1847" id="coe6z0rm3-00016" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="1847" Title="The Financial Services Act 2012 (Commencement No. 5) Order 2014">S.I. 2014/1847</Citation>
,
<CitationSubRef id="coe6z0rm3-00017" CitationRef="coe6z0rm3-00016" URI="http://www.legislation.gov.uk/id/uksi/2014/1847/article/2" SectionRef="article-2">art. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-397b4a4d2556e82534d62a3fccf4ab9e" Type="F">
<Para>
<Text>
S. 81C(1A)(aa) inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c4lt0w4-00016" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c4lt0w4-00017" CitationRef="c5c4lt0w4-00016" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c4lt0w4-00018" CitationRef="c5c4lt0w4-00016" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/18/a" SectionRef="regulation-18-a" Operative="true">18(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-3f368772f125ea1ae21ac6cfd6f06119" Type="C">
<Para>
<Text>
Pt. 1 restricted (7.1.2010) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2010/35" id="c5nlkqlf2-00007" Class="UnitedKingdomStatutoryInstrument" Year="2010" Number="35" Title="Banking Act 2009 (Exclusion of Insurers) Order 2010">Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35)</Citation>
,
<CitationSubRef id="c5nlkqlf2-00008" CitationRef="c5nlkqlf2-00007" URI="http://www.legislation.gov.uk/id/uksi/2010/35/article/1" SectionRef="article-1">arts. 1</CitationSubRef>
,
<CitationSubRef id="c5nlkqlf2-00009" CitationRef="c5nlkqlf2-00007" URI="http://www.legislation.gov.uk/id/uksi/2010/35/article/2" SectionRef="article-2" Operative="true">2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-43619c26d43d8819e5598ec1140ac9f8" Type="F">
<Para>
<Text>
Words in s. 81AA(14) substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00124" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00125" CitationRef="c9azoprf4-00124" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00126" CitationRef="c9azoprf4-00124" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/10/b" SectionRef="schedule-1-paragraph-29-10-b" Operative="true">Sch. 1 para. 29(10)(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00127" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00128" CitationRef="c9azoprf4-00127" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-4478161b7215040f83163154e2fd0f01" Type="F">
<Para>
<Text>
Words in s. 81CA(5)(c) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cora8z973-00034" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cora8z973-00035" CitationRef="cora8z973-00034" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cora8z973-00036" CitationRef="cora8z973-00034" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/94/3/c" SectionRef="article-94-3-c" Operative="true">94(3)(c)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-489e119b8b466c42b736599556a84928" Type="F">
<Para>
<Text>
Words in s. 81CA(5)(b)(i) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cora8z973-00025" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cora8z973-00026" CitationRef="cora8z973-00025" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cora8z973-00027" CitationRef="cora8z973-00025" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/94/3/b" SectionRef="article-94-3-b" Operative="true">94(3)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-496b3acc541e999379e261af70459bc1" Type="F">
<Para>
<Text>
S. 81C(1A)(1B) inserted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cor7yx873-00008" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cor7yx873-00009" CitationRef="cor7yx873-00008" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cor7yx873-00010" CitationRef="cor7yx873-00008" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/93/3" SectionRef="article-93-3" Operative="true">93(3)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-4fb7290acd1156c60c13b0ea69d19e24" Type="F">
<Para>
<Text>
Words in s. 81AA(8)(b) inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c3rx3b4-00016" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c3rx3b4-00017" CitationRef="c5c3rx3b4-00016" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c3rx3b4-00018" CitationRef="c5c3rx3b4-00016" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/13/b" SectionRef="regulation-13-b" Operative="true">13(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-51662c69a72db365659f29d2ac7c0c44" Type="F">
<Para>
<Text>
Words in s. 81C(2) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cor7yx873-00053" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cor7yx873-00054" CitationRef="cor7yx873-00053" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cor7yx873-00055" CitationRef="cor7yx873-00053" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/93/4/b" SectionRef="article-93-4-b" Operative="true">93(4)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-5546e3bae88e213c0844876c7f222845" Type="F">
<Para>
<Text>
Words in s. 81AA(1) substituted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c3rx3b4-00043" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c3rx3b4-00044" CitationRef="c5c3rx3b4-00043" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c3rx3b4-00045" CitationRef="c5c3rx3b4-00043" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/13/a/ii" SectionRef="regulation-13-a-ii" Operative="true">13(a)(ii)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-564c67b8771ee144085bcea7d5e080eb" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b1yja84-00006" SectionRef="section-81ZBB-3" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/3">s. 81ZBB(3)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b1yja84-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b1yja84-00008" CitationRef="c9b1yja84-00007" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b1yja84-00009" CitationRef="c9b1yja84-00007" SectionRef="regulation-67-a" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/67/a" Operative="true">67(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-57b4d30bc15b8d597f5941611075606c" Type="F">
<Para>
<Text>
Ss. 81ZZBA, 81ZZBB inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5aulqwc4-00027" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5aulqwc4-00028" CitationRef="c5aulqwc4-00027" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5aulqwc4-00029" CitationRef="c5aulqwc4-00027" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/14" SectionRef="regulation-14" Operative="true">14</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-599074cabc855f94d1ffdecabfbb35bf" Type="F">
<Para>
<Text>
Words in s. 81D(1)(a) inserted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="corajsq03-00016" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="corajsq03-00017" CitationRef="corajsq03-00016" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="corajsq03-00018" CitationRef="corajsq03-00016" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/95/2" SectionRef="article-95-2" Operative="true">95(2)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-615424d92c99c03d1a4bac9f8508a0dd" Type="F">
<Para>
<Text>
Words in s. 81CA(5) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b1k5fi4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b1k5fi4-00008" CitationRef="c9b1k5fi4-00007" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b1k5fi4-00009" CitationRef="c9b1k5fi4-00007" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/33" SectionRef="schedule-1-paragraph-33" Operative="true">Sch. 1 para. 33</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b1k5fi4-00010" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b1k5fi4-00011" CitationRef="c9b1k5fi4-00010" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-66128f0e1311ca44b09df6cb3e25b25a" Type="F">
<Para>
<Text>
Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cosf2jbd3-00092" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cosf2jbd3-00093" CitationRef="cosf2jbd3-00092" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cosf2jbd3-00094" CitationRef="cosf2jbd3-00092" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/7" SectionRef="article-7" Operative="true">7</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-671fed25cd43d5561616bb491ff1c5b0" Type="F">
<Para>
<Text>
S. 81CA inserted (31.12.2014) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2013/33" id="copnp3bs3-00143" Class="UnitedKingdomPublicGeneralAct" Year="2013" Number="33" Title="Financial Services (Banking Reform) Act 2013">Financial Services (Banking Reform) Act 2013 (c. 33)</Citation>
,
<CitationSubRef id="copnp3bs3-00144" CitationRef="copnp3bs3-00143" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/section/148/5" SectionRef="section-148-5">s. 148(5)</CitationSubRef>
,
<CitationSubRef id="copnp3bs3-00145" CitationRef="copnp3bs3-00143" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/2/paragraph/7/2" SectionRef="schedule-2-paragraph-7-2" Operative="true">Sch. 2 para. 7(2)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3160" id="copnp3bs3-00146" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3160" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 7) Order 2014">S.I. 2014/3160</Citation>
,
<CitationSubRef id="copnp3bs3-00147" CitationRef="copnp3bs3-00146" URI="http://www.legislation.gov.uk/id/uksi/2014/3160/article/2/1/b" SectionRef="article-2-1-b">art. 2(1)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-6cf81b4cc2c8762492e3f6a076113b21" Type="F">
<Para>
<Text>
Words in s. 81AA(2)(c)(ii) substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00040" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00041" CitationRef="c9azoprf4-00040" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00042" CitationRef="c9azoprf4-00040" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/2/b" SectionRef="schedule-1-paragraph-29-2-b" Operative="true">Sch. 1 para. 29(2)(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00043" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00044" CitationRef="c9azoprf4-00043" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-6f5e01e37d92359b4966328ce1685675" Type="F">
<Para>
<Text>
Words in s. 81B(9) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b0y55n4-00018" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b0y55n4-00019" CitationRef="c9b0y55n4-00018" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b0y55n4-00020" CitationRef="c9b0y55n4-00018" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/30/4/a" SectionRef="schedule-1-paragraph-30-4-a" Operative="true">Sch. 1 para. 30(4)(a)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b0y55n4-00021" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b0y55n4-00022" CitationRef="c9b0y55n4-00021" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-70e7f3c6d80a6570da58f2ca9ce3bbdc" Type="F">
<Para>
<Text>
<CitationSubRef id="c9b14pqn4-00015" SectionRef="section-81BA-2-b" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/2/b">S. 81BA(2)(b)</CitationSubRef>
omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b14pqn4-00016" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b14pqn4-00017" CitationRef="c9b14pqn4-00016" SectionRef="regulation-1-2" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b14pqn4-00018" CitationRef="c9b14pqn4-00016" SectionRef="schedule-1-paragraph-32-a" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/32/a" Operative="true">Sch. 1 para. 32(a)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b14pqn4-00019" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b14pqn4-00020" CitationRef="c9b14pqn4-00019" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-739dc30b68d7fa80dfe9be682b252a6c" Type="F">
<Para>
<Text>
Ss. 81BB, 81BC inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5at0c7i4-00047" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5at0c7i4-00048" CitationRef="c5at0c7i4-00047" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5at0c7i4-00049" CitationRef="c5at0c7i4-00047" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/16" SectionRef="regulation-16" Operative="true">16</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-74f07ff99222134211ec25f46946a8b1" Type="F">
<Para>
<Text>
Words in s. 81B(3) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cor9y9pi3-00027" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cor9y9pi3-00028" CitationRef="cor9y9pi3-00027" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cor9y9pi3-00029" CitationRef="cor9y9pi3-00027" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/90/3" SectionRef="article-90-3" Operative="true">90(3)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-7fdfbfb1b3ea055870a9de7f72d5c9aa" Type="F">
<Para>
<Text>
S. 81AA inserted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="corhtkk83-00292" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="corhtkk83-00293" CitationRef="corhtkk83-00292" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="corhtkk83-00294" CitationRef="corhtkk83-00292" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/89" SectionRef="article-89" Operative="true">89</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-8114f00f52830adf88b46b6a66ade807" Type="F">
<Para>
<Text>
S. 81C(1)(aa) inserted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cor7yx873-00035" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cor7yx873-00036" CitationRef="cor7yx873-00035" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cor7yx873-00037" CitationRef="cor7yx873-00035" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/93/2/b" SectionRef="article-93-2-b" Operative="true">93(2)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-8137bdea7938d4bc6493ee835769214c" Type="F">
<Para>
<Text>
Words in s. 81AA(7)(a) inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c3rx3b4-00061" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c3rx3b4-00062" CitationRef="c5c3rx3b4-00061" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c3rx3b4-00063" CitationRef="c5c3rx3b4-00061" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/13/b" SectionRef="regulation-13-b" Operative="true">13(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-8237184bf9d2511c9e85a39467021192" Type="F">
<Para>
<Text>
S. 81B(9) inserted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cor9y9pi3-00018" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cor9y9pi3-00019" CitationRef="cor9y9pi3-00018" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cor9y9pi3-00020" CitationRef="cor9y9pi3-00018" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/90/4" SectionRef="article-90-4" Operative="true">90(4)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-8266c9e9d690a7e09407d814a3982912" Type="F">
<Para>
<Text>
Words in s. 81AA(8)(b) omitted (16.12.2016) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2016/1239" id="cw0zyvf63-00007" Class="UnitedKingdomStatutoryInstrument" Year="2016" Number="1239" Title="The Bank Recovery and Resolution Order 2016">The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239)</Citation>
,
<CitationSubRef id="cw0zyvf63-00008" CitationRef="cw0zyvf63-00007" URI="http://www.legislation.gov.uk/id/uksi/2016/1239/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cw0zyvf63-00009" CitationRef="cw0zyvf63-00007" URI="http://www.legislation.gov.uk/id/uksi/2016/1239/article/18" SectionRef="article-18" Operative="true">18</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-829eb82588281686a850e964a2461834" Type="C">
<Para>
<Text>
S. 81ZBA modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5armwja4-00639" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5armwja4-00640" CitationRef="c5armwja4-00639" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/4" SectionRef="regulation-1-4">regs. 1(4)</CitationSubRef>
,
<CitationSubRef id="c5armwja4-00641" CitationRef="c5armwja4-00639" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/92/2" SectionRef="regulation-92-2" Operative="true">92(2)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-84e6f7524d9cfb1704a7cd72c8e258c5" Type="F">
<Para>
<Text>
S. 81AA(11)(c)(i)(ii) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00091" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00092" CitationRef="c9azoprf4-00091" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00093" CitationRef="c9azoprf4-00091" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/9/a" SectionRef="schedule-1-paragraph-29-9-a" Operative="true">Sch. 1 para. 29(9)(a)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00094" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00095" CitationRef="c9azoprf4-00094" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-8695ee93ed45b46a977711a78dcbdc1c" Type="F">
<Para>
<Text>
Words in s. 81CA(1) inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c59kdx4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c59kdx4-00008" CitationRef="c5c59kdx4-00007" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c59kdx4-00009" CitationRef="c5c59kdx4-00007" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/20" SectionRef="regulation-20" Operative="true">20</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-8a491af03c1014dfdeb9cb5b0a92e904" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b187l84-00006" SectionRef="section-81BB-3" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BB/3">s. 81BB(3)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b187l84-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b187l84-00008" CitationRef="c9b187l84-00007" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b187l84-00009" CitationRef="c9b187l84-00007" SectionRef="regulation-69" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/69" Operative="true">69</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-8ad18992ddedda09c1e01d2096d1feca" Type="F">
<Para>
<Text>
Words in s. 81D(7) substituted (31.12.2014) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2013/33" id="comtbxr73-00018" Class="UnitedKingdomPublicGeneralAct" Year="2013" Number="33" Title="Financial Services (Banking Reform) Act 2013">Financial Services (Banking Reform) Act 2013 (c. 33)</Citation>
,
<CitationSubRef id="comtbxr73-00019" CitationRef="comtbxr73-00018" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/section/148/5" SectionRef="section-148-5">s. 148(5)</CitationSubRef>
,
<CitationSubRef id="comtbxr73-00020" CitationRef="comtbxr73-00018" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/2/paragraph/7/3/b" SectionRef="schedule-2-paragraph-7-3-b" Operative="true">Sch. 2 para. 7(3)(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3160" id="comtbxr73-00021" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3160" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 7) Order 2014">S.I. 2014/3160</Citation>
,
<CitationSubRef id="comtbxr73-00022" CitationRef="comtbxr73-00021" URI="http://www.legislation.gov.uk/id/uksi/2014/3160/article/2/1/b" SectionRef="article-2-1-b">art. 2(1)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-8eda7eec19bae06006851c7365d8aa64" Type="F">
<Para>
<Text>
S. 83(2)(d)(iv) substituted for s. 83(2)(d)(iv)(v) (1.4.2013) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2012/21" id="cahxv5lo3-00021" Class="UnitedKingdomPublicGeneralAct" Year="2012" Number="21" Title="Financial Services Act 2012">Financial Services Act 2012 (c. 21)</Citation>
,
<CitationSubRef id="cahxv5lo3-00022" CitationRef="cahxv5lo3-00021" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/97/10/b" SectionRef="section-97-10-b" Operative="true">ss. 97(10)(b)</CitationSubRef>
,
<CitationSubRef id="cahxv5lo3-00023" CitationRef="cahxv5lo3-00021" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/122/3" SectionRef="section-122-3">122(3)</CitationSubRef>
(with
<CitationSubRef id="cahxv5lo3-00024" CitationRef="cahxv5lo3-00021" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/schedule/20" SectionRef="schedule-20">Sch. 20</CitationSubRef>
);
<Citation URI="http://www.legislation.gov.uk/id/uksi/2013/423" id="cahxv5lo3-00025" Class="UnitedKingdomStatutoryInstrument" Year="2013" Number="423" Title="The Financial Services Act 2012 (Commencement No. 2) Order 2013">S.I. 2013/423</Citation>
,
<CitationSubRef id="cahxv5lo3-00026" CitationRef="cahxv5lo3-00025" URI="http://www.legislation.gov.uk/id/uksi/2013/423/article/3" SectionRef="article-3">art. 3</CitationSubRef>
,
<CitationSubRef id="cahxv5lo3-00027" CitationRef="cahxv5lo3-00025" URI="http://www.legislation.gov.uk/id/uksi/2013/423/schedule" SectionRef="schedule">Sch.</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-951b0b3421a9e07b72c7ea7e37815447" Type="F">
<Para>
<Text>
Words in s. 81B(2A) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b0y55n4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b0y55n4-00008" CitationRef="c9b0y55n4-00007" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b0y55n4-00009" CitationRef="c9b0y55n4-00007" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/30/3" SectionRef="schedule-1-paragraph-30-3" Operative="true">Sch. 1 para. 30(3)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b0y55n4-00010" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b0y55n4-00011" CitationRef="c9b0y55n4-00010" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-9b326bd62ee99dde2a6a885e80d2a7ea" Type="F">
<Para>
<Text>
Words in s. 83(2)(h) omitted (8.4.2010) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2010/28" id="c5nppifx2-00007" Class="UnitedKingdomPublicGeneralAct" Year="2010" Number="28" Title="Financial Services Act 2010">Financial Services Act 2010 (c. 28)</Citation>
,
<CitationSubRef id="c5nppifx2-00008" CitationRef="c5nppifx2-00007" URI="http://www.legislation.gov.uk/id/ukpga/2010/28/section/26/1/l" SectionRef="section-26-1-l">s. 26(1)(l)</CitationSubRef>
,
<CitationSubRef id="c5nppifx2-00009" CitationRef="c5nppifx2-00007" URI="http://www.legislation.gov.uk/id/ukpga/2010/28/schedule/2/paragraph/42" SectionRef="schedule-2-paragraph-42" Operative="true">Sch. 2 para. 42</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-9cdb08f7c7d140077afcd56a046cf547" Type="F">
<Para>
<Text>
Words in s. 81AA(1) inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c3rx3b4-00034" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c3rx3b4-00035" CitationRef="c5c3rx3b4-00034" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c3rx3b4-00036" CitationRef="c5c3rx3b4-00034" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/13/a/i" SectionRef="regulation-13-a-i" Operative="true">13(a)(i)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-9d8478ae3de89a7fdb2908b1884a9950" Type="I">
<Para>
<Text>
S. 83 in force at 21.2.2009 in so far as not already in force by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/296" id="c5njw6fq2-00619" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="296" Title="The Banking Act 2009 (Commencement No. 1) Order 2009">S.I. 2009/296</Citation>
,
<CitationSubRef id="c5njw6fq2-00620" CitationRef="c5njw6fq2-00619" URI="http://www.legislation.gov.uk/id/uksi/2009/296/article/2" SectionRef="article-2">arts. 2</CitationSubRef>
,
<CitationSubRef id="c5njw6fq2-00621" CitationRef="c5njw6fq2-00619" URI="http://www.legislation.gov.uk/id/uksi/2009/296/article/3" SectionRef="article-3">3</CitationSubRef>
,
<CitationSubRef id="c5njw6fq2-00622" CitationRef="c5njw6fq2-00619" URI="http://www.legislation.gov.uk/id/uksi/2009/296/schedule/paragraph/1" SectionRef="schedule-paragraph-1" Operative="true">Sch. para. 1</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-9ec0c6fd67c2b6e4da74bee50902c867" Type="C">
<Para>
<Text>
S. 81BA modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5armwja4-00648" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5armwja4-00649" CitationRef="c5armwja4-00648" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/4" SectionRef="regulation-1-4">regs. 1(4)</CitationSubRef>
,
<CitationSubRef id="c5armwja4-00650" CitationRef="c5armwja4-00648" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/92/3" SectionRef="regulation-92-3" Operative="true">92(3)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-9efd635baed509b630eed062ff74dc65" Type="F">
<Para>
<Text>
Word in s. 81AA(4)(c) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00060" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00061" CitationRef="c9azoprf4-00060" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00062" CitationRef="c9azoprf4-00060" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/5" SectionRef="schedule-1-paragraph-29-5" Operative="true">Sch. 1 para. 29(5)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00063" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00064" CitationRef="c9azoprf4-00063" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ab98a91e355c923a95a391979b793bd0" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b1yja84-00024" SectionRef="section-81ZBB-11" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/11">s. 81ZBB(11)</CitationSubRef>
omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b1yja84-00025" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b1yja84-00026" CitationRef="c9b1yja84-00025" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b1yja84-00027" CitationRef="c9b1yja84-00025" SectionRef="regulation-67-b-ii" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/67/b/ii" Operative="true">67(b)(ii)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ad3238ee542e391d7756a02894d44825" Type="F">
<Para>
<Text>
Word in s. 83(2)(d)(iii) inserted (1.4.2013) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2012/21" id="cahxv5lo3-00007" Class="UnitedKingdomPublicGeneralAct" Year="2012" Number="21" Title="Financial Services Act 2012">Financial Services Act 2012 (c. 21)</Citation>
,
<CitationSubRef id="cahxv5lo3-00008" CitationRef="cahxv5lo3-00007" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/97/10/a" SectionRef="section-97-10-a" Operative="true">ss. 97(10)(a)</CitationSubRef>
,
<CitationSubRef id="cahxv5lo3-00009" CitationRef="cahxv5lo3-00007" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/122/3" SectionRef="section-122-3">122(3)</CitationSubRef>
(with
<CitationSubRef id="cahxv5lo3-00010" CitationRef="cahxv5lo3-00007" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/schedule/20" SectionRef="schedule-20">Sch. 20</CitationSubRef>
);
<Citation URI="http://www.legislation.gov.uk/id/uksi/2013/423" id="cahxv5lo3-00011" Class="UnitedKingdomStatutoryInstrument" Year="2013" Number="423" Title="The Financial Services Act 2012 (Commencement No. 2) Order 2013">S.I. 2013/423</Citation>
,
<CitationSubRef id="cahxv5lo3-00012" CitationRef="cahxv5lo3-00011" URI="http://www.legislation.gov.uk/id/uksi/2013/423/article/3" SectionRef="article-3">art. 3</CitationSubRef>
,
<CitationSubRef id="cahxv5lo3-00013" CitationRef="cahxv5lo3-00011" URI="http://www.legislation.gov.uk/id/uksi/2013/423/schedule" SectionRef="schedule">Sch.</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ae578426e5978081aa817f620bc0fc11" Type="F">
<Para>
<Text>
Words in s. 81ZBA(2A) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b1tkxr4-00016" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b1tkxr4-00017" CitationRef="c9b1tkxr4-00016" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b1tkxr4-00018" CitationRef="c9b1tkxr4-00016" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/31/3" SectionRef="schedule-1-paragraph-31-3" Operative="true">Sch. 1 para. 31(3)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b1tkxr4-00019" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b1tkxr4-00020" CitationRef="c9b1tkxr4-00019" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-af175bf18c053d7b56b43a91e0c1ffcb" Type="F">
<Para>
<Text>
Words in s. 81D(1) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b1nve24-00007" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b1nve24-00008" CitationRef="c9b1nve24-00007" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b1nve24-00009" CitationRef="c9b1nve24-00007" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/34/a" SectionRef="schedule-1-paragraph-34-a" Operative="true">Sch. 1 para. 34(a)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b1nve24-00010" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b1nve24-00011" CitationRef="c9b1nve24-00010" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-af238899b5ea5907cf6d3190217c33c6" Type="F">
<Para>
<Text>
S. 81AA(2A) inserted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00008" CitationRef="c9azoprf4-00007" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00009" CitationRef="c9azoprf4-00007" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/3" SectionRef="schedule-1-paragraph-29-3" Operative="true">Sch. 1 para. 29(3)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00010" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00011" CitationRef="c9azoprf4-00010" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-b6dc07a8aa212e179e6f8c95bde2a707" Type="F">
<Para>
<Text>
Word in
<CitationSubRef id="c9b1yja84-00015" SectionRef="section-81ZBB-11" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZBB/11">s. 81ZBB(11)</CitationSubRef>
omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b1yja84-00016" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b1yja84-00017" CitationRef="c9b1yja84-00016" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b1yja84-00018" CitationRef="c9b1yja84-00016" SectionRef="regulation-67-b-i" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/67/b/i" Operative="true">67(b)(i)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ba1c8e39397f54d6d123e2892ad2756e" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b2z67w4-00015" SectionRef="section-81ZZBB-10-b" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/10/b">s. 81ZZBB(10)(b)</CitationSubRef>
inserted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b2z67w4-00016" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b2z67w4-00017" CitationRef="c9b2z67w4-00016" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b2z67w4-00018" CitationRef="c9b2z67w4-00016" SectionRef="regulation-66-b-i" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/66/b/i" Operative="true">66(b)(i)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-bc75166cc98bef0befe029cf158430aa" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b2z67w4-00006" SectionRef="section-81ZZBB-5-a" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/5/a">s. 81ZZBB(5)(a)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b2z67w4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b2z67w4-00008" CitationRef="c9b2z67w4-00007" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b2z67w4-00009" CitationRef="c9b2z67w4-00007" SectionRef="regulation-66-a" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/66/a" Operative="true">66(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-be5cd69b84d96c52cf361b5d95073761" Type="F">
<Para>
<Text>
Words in s. 81B(9) substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b0y55n4-00029" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b0y55n4-00030" CitationRef="c9b0y55n4-00029" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b0y55n4-00031" CitationRef="c9b0y55n4-00029" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/30/4/b" SectionRef="schedule-1-paragraph-30-4-b" Operative="true">Sch. 1 para. 30(4)(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b0y55n4-00032" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b0y55n4-00033" CitationRef="c9b0y55n4-00032" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-c4bdae7053eea94fd4337460e5cdafb8" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b2w7xn4-00006" SectionRef="section-81ZZBA-3" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBA/3">s. 81ZZBA(3)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b2w7xn4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b2w7xn4-00008" CitationRef="c9b2w7xn4-00007" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b2w7xn4-00009" CitationRef="c9b2w7xn4-00007" SectionRef="regulation-65" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/65" Operative="true">65</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-c5fedba836ae069a5aa6de219d0e626a" Type="F">
<Para>
<Text>
Ss. 81ZBB, 81ZBC inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5aulqwc4-00037" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5aulqwc4-00038" CitationRef="c5aulqwc4-00037" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5aulqwc4-00039" CitationRef="c5aulqwc4-00037" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/15" SectionRef="regulation-15" Operative="true">15</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-d30ab7e82e9abdfa7ec0a0fc367c2458" Type="F">
<Para>
<Text>
S. 81B(2)(b) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b0y55n4-00038" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b0y55n4-00039" CitationRef="c9b0y55n4-00038" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b0y55n4-00040" CitationRef="c9b0y55n4-00038" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/30/2" SectionRef="schedule-1-paragraph-30-2" Operative="true">Sch. 1 para. 30(2)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b0y55n4-00041" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b0y55n4-00042" CitationRef="c9b0y55n4-00041" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-d52f33142bf0c832bf0efdfff901093f" Type="F">
<Para>
<Text>
Word in s. 81C(1)(a) omitted (1.1.2015) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cor7yx873-00026" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cor7yx873-00027" CitationRef="cor7yx873-00026" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cor7yx873-00028" CitationRef="cor7yx873-00026" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/93/2/a" SectionRef="article-93-2-a" Operative="true">93(2)(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-d61c11c98bffb5574a20d9c8bde558db" Type="F">
<Para>
<Text>
Words in s. 81D(6) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="corajsq03-00007" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="corajsq03-00008" CitationRef="corajsq03-00007" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="corajsq03-00009" CitationRef="corajsq03-00007" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/95/3" SectionRef="article-95-3" Operative="true">95(3)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-d636fba76bb4849d4240030698d82a5c" Type="F">
<Para>
<Text>
Words in s. 81AA(11)(c)(iii) substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00102" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00103" CitationRef="c9azoprf4-00102" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00104" CitationRef="c9azoprf4-00102" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/9/b" SectionRef="schedule-1-paragraph-29-9-b" Operative="true">Sch. 1 para. 29(9)(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00105" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00106" CitationRef="c9azoprf4-00105" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-d7148d59860865803f327998bdcab895" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b1eaj54-00006" SectionRef="section-81BC-5-a" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/5/a">s. 81BC(5)(a)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b1eaj54-00007" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b1eaj54-00008" CitationRef="c9b1eaj54-00007" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b1eaj54-00009" CitationRef="c9b1eaj54-00007" SectionRef="regulation-70-a" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/70/a" Operative="true">70(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-d7dd1c419db20296a058b0a99e4e3f6e" Type="I">
<Para>
<Text>
S. 82 in force at 21.2.2009 by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2009/296" id="c5njw6fq2-01456" Class="UnitedKingdomStatutoryInstrument" Year="2009" Number="296" Title="The Banking Act 2009 (Commencement No. 1) Order 2009">S.I. 2009/296</Citation>
,
<CitationSubRef id="c5njw6fq2-01457" CitationRef="c5njw6fq2-01456" URI="http://www.legislation.gov.uk/id/uksi/2009/296/article/3" SectionRef="article-3">art. 3</CitationSubRef>
,
<CitationSubRef id="c5njw6fq2-01458" CitationRef="c5njw6fq2-01456" URI="http://www.legislation.gov.uk/id/uksi/2009/296/schedule/paragraph/1" SectionRef="schedule-paragraph-1" Operative="true">Sch. para. 1</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-d9dd5eaf619a27cda1f8d35af008c4cd" Type="F">
<Para>
<Text>
S. 81C heading substituted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5at0c7i4-00057" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5at0c7i4-00058" CitationRef="c5at0c7i4-00057" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5at0c7i4-00059" CitationRef="c5at0c7i4-00057" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/17" SectionRef="regulation-17" Operative="true">17</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-da3a598b8edcbdbe7bcf013c044c0d66" Type="F">
<Para>
<Text>
Words in s. 81ZBA(9) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b1tkxr4-00027" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b1tkxr4-00028" CitationRef="c9b1tkxr4-00027" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b1tkxr4-00029" CitationRef="c9b1tkxr4-00027" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/31/4" SectionRef="schedule-1-paragraph-31-4" Operative="true">Sch. 1 para. 31(4)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b1tkxr4-00030" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b1tkxr4-00031" CitationRef="c9b1tkxr4-00030" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-da9a1fc529c91549bbae3efb883f65e6" Type="F">
<Para>
<Text>
Words in s. 82(2) substituted (1.4.2013) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2012/21" id="cahxrf423-00007" Class="UnitedKingdomPublicGeneralAct" Year="2012" Number="21" Title="Financial Services Act 2012">Financial Services Act 2012 (c. 21)</Citation>
,
<CitationSubRef id="cahxrf423-00008" CitationRef="cahxrf423-00007" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/122/3" SectionRef="section-122-3">s. 122(3)</CitationSubRef>
,
<CitationSubRef id="cahxrf423-00009" CitationRef="cahxrf423-00007" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/schedule/17/paragraph/27/2" SectionRef="schedule-17-paragraph-27-2" Operative="true">Sch. 17 para. 27(2)</CitationSubRef>
(with
<CitationSubRef id="cahxrf423-00010" CitationRef="cahxrf423-00007" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/schedule/20" SectionRef="schedule-20">Sch. 20</CitationSubRef>
);
<Citation URI="http://www.legislation.gov.uk/id/uksi/2013/423" id="cahxrf423-00011" Class="UnitedKingdomStatutoryInstrument" Year="2013" Number="423" Title="The Financial Services Act 2012 (Commencement No. 2) Order 2013">S.I. 2013/423</Citation>
,
<CitationSubRef id="cahxrf423-00012" CitationRef="cahxrf423-00011" URI="http://www.legislation.gov.uk/id/uksi/2013/423/article/3" SectionRef="article-3">art. 3</CitationSubRef>
,
<CitationSubRef id="cahxrf423-00013" CitationRef="cahxrf423-00011" URI="http://www.legislation.gov.uk/id/uksi/2013/423/schedule" SectionRef="schedule">Sch.</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-dc0fa706a6691fa196964a80c7ac594a" Type="F">
<Para>
<Text>
Words in s. 81C(2) substituted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c4lt0w4-00025" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c4lt0w4-00026" CitationRef="c5c4lt0w4-00025" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c4lt0w4-00027" CitationRef="c5c4lt0w4-00025" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/18/c" SectionRef="regulation-18-c" Operative="true">18(c)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-e29d43279b7404b76eb013a6cfcaf1ea" Type="F">
<Para>
<Text>
S. 82(5)(a)(aa) substituted for s. 82(5)(a) (1.4.2013) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2012/21" id="cahxrf423-00022" Class="UnitedKingdomPublicGeneralAct" Year="2012" Number="21" Title="Financial Services Act 2012">Financial Services Act 2012 (c. 21)</Citation>
,
<CitationSubRef id="cahxrf423-00023" CitationRef="cahxrf423-00022" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/section/122/3" SectionRef="section-122-3">s. 122(3)</CitationSubRef>
,
<CitationSubRef id="cahxrf423-00024" CitationRef="cahxrf423-00022" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/schedule/17/paragraph/27/3" SectionRef="schedule-17-paragraph-27-3" Operative="true">Sch. 17 para. 27(3)</CitationSubRef>
(with
<CitationSubRef id="cahxrf423-00025" CitationRef="cahxrf423-00022" URI="http://www.legislation.gov.uk/id/ukpga/2012/21/schedule/20" SectionRef="schedule-20">Sch. 20</CitationSubRef>
);
<Citation URI="http://www.legislation.gov.uk/id/uksi/2013/423" id="cahxrf423-00026" Class="UnitedKingdomStatutoryInstrument" Year="2013" Number="423" Title="The Financial Services Act 2012 (Commencement No. 2) Order 2013">S.I. 2013/423</Citation>
,
<CitationSubRef id="cahxrf423-00027" CitationRef="cahxrf423-00026" URI="http://www.legislation.gov.uk/id/uksi/2013/423/article/3" SectionRef="article-3">art. 3</CitationSubRef>
,
<CitationSubRef id="cahxrf423-00028" CitationRef="cahxrf423-00026" URI="http://www.legislation.gov.uk/id/uksi/2013/423/schedule" SectionRef="schedule">Sch.</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-e4b12724246dce1a7db094fbc9559dfe" Type="F">
<Para>
<Text>
S. 81BA(2)(2A) substituted for s. 81BA(2) (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cora2jy93-00009" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cora2jy93-00010" CitationRef="cora2jy93-00009" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cora2jy93-00011" CitationRef="cora2jy93-00009" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/92/2" SectionRef="article-92-2" Operative="true">92(2)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-e52bd2f674632d77895a6f24d615a25f" Type="F">
<Para>
<Text>
S. 81BA(7) inserted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cora2jy93-00018" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cora2jy93-00019" CitationRef="cora2jy93-00018" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cora2jy93-00020" CitationRef="cora2jy93-00018" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/92/4" SectionRef="article-92-4" Operative="true">92(4)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-e8ffeac5658535fb97f1a0eea88667e0" Type="F">
<Para>
<Text>
S. 81AA(6) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00069" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00070" CitationRef="c9azoprf4-00069" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00071" CitationRef="c9azoprf4-00069" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/6" SectionRef="schedule-1-paragraph-29-6" Operative="true">Sch. 1 para. 29(6)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00072" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00073" CitationRef="c9azoprf4-00072" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-eae066b89cbee1c86919cb7e9a53fcdd" Type="F">
<Para>
<Text>
Words in s. 81AA(9) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00080" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00081" CitationRef="c9azoprf4-00080" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00082" CitationRef="c9azoprf4-00080" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/8" SectionRef="schedule-1-paragraph-29-8" Operative="true">Sch. 1 para. 29(8)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00083" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00084" CitationRef="c9azoprf4-00083" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ec2f9ee9a484c5da13e75c13a44f6852" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b14pqn4-00006" SectionRef="section-81BA-2A" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BA/2A">s. 81BA(2A)</CitationSubRef>
omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b14pqn4-00007" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b14pqn4-00008" CitationRef="c9b14pqn4-00007" SectionRef="regulation-1-2" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b14pqn4-00009" CitationRef="c9b14pqn4-00007" SectionRef="schedule-1-paragraph-32-b" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/32/b" Operative="true">Sch. 1 para. 32(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b14pqn4-00010" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b14pqn4-00011" CitationRef="c9b14pqn4-00010" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-edff9230c138849ae514289c23aa3719" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b1eaj54-00015" SectionRef="section-81BC-10-b" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/10/b">s. 81BC(10)(b)</CitationSubRef>
inserted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b1eaj54-00016" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b1eaj54-00017" CitationRef="c9b1eaj54-00016" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b1eaj54-00018" CitationRef="c9b1eaj54-00016" SectionRef="regulation-70-b-i" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/70/b/i" Operative="true">70(b)(i)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ee572d21b268ac6184296ea2eb75433f" Type="F">
<Para>
<Text>
Words in s. 81AA(14) inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5c3rx3b4-00025" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5c3rx3b4-00026" CitationRef="c5c3rx3b4-00025" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5c3rx3b4-00027" CitationRef="c5c3rx3b4-00025" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/13/d" SectionRef="regulation-13-d" Operative="true">13(d)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-eee37fc200ab7996e9da33749a2f0cec" Type="F">
<Para>
<Text>
Words in s. 81CA heading inserted (28.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c5art4ke4-00066" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c5art4ke4-00067" CitationRef="c5art4ke4-00066" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/2" SectionRef="regulation-1-2">regs. 1(2)</CitationSubRef>
,
<CitationSubRef id="c5art4ke4-00068" CitationRef="c5art4ke4-00066" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/19" SectionRef="regulation-19" Operative="true">19</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-f064e14c122b477a965f472d10fa7ed8" Type="F">
<Para>
<Text>
Words in s. 81AA(14) substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00135" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00136" CitationRef="c9azoprf4-00135" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00137" CitationRef="c9azoprf4-00135" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/10/c" SectionRef="schedule-1-paragraph-29-10-c" Operative="true">Sch. 1 para. 29(10)(c)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00138" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00139" CitationRef="c9azoprf4-00138" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-f298e2a630034a1fbd1b44d65621f0a8" Type="F">
<Para>
<Text>
Word in s. 81D(1) substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b1nve24-00018" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b1nve24-00019" CitationRef="c9b1nve24-00018" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b1nve24-00020" CitationRef="c9b1nve24-00018" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/34/b" SectionRef="schedule-1-paragraph-34-b" Operative="true">Sch. 1 para. 34(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b1nve24-00021" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b1nve24-00022" CitationRef="c9b1nve24-00021" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-f2c41aa1bd4d9b3eb3e48c4ff7f964ff" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b2z67w4-00024" SectionRef="section-81ZZBB-10-c" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81ZZBB/10/c">s. 81ZZBB(10)(c)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b2z67w4-00025" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b2z67w4-00026" CitationRef="c9b2z67w4-00025" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b2z67w4-00027" CitationRef="c9b2z67w4-00025" SectionRef="regulation-66-b-ii" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/66/b/ii" Operative="true">66(b)(ii)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-f3808a6f890cccf51e9b03fe8b09cc3f" Type="F">
<Para>
<Text>
S. 83(1)(aa) inserted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="corantvx3-00007" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="corantvx3-00008" CitationRef="corantvx3-00007" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="corantvx3-00009" CitationRef="corantvx3-00007" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/96/1" SectionRef="article-96-1" Operative="true">96(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-f4bdbfd3bdd29e46f975935dab0d7689" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c9b1eaj54-00024" SectionRef="section-81BC-10-c" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/81BC/10/c">s. 81BC(10)(c)</CitationSubRef>
substituted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2020/1350" id="c9b1eaj54-00025" Class="UnitedKingdomStatutoryInstrument" Year="2020" Number="1350" Title="The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020">The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350)</Citation>
,
<CitationSubRef id="c9b1eaj54-00026" CitationRef="c9b1eaj54-00025" SectionRef="regulation-1-3" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/1/3">regs. 1(3)</CitationSubRef>
,
<CitationSubRef id="c9b1eaj54-00027" CitationRef="c9b1eaj54-00025" SectionRef="regulation-70-b-ii" URI="http://www.legislation.gov.uk/id/uksi/2020/1350/regulation/70/b/ii" Operative="true">70(b)(ii)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-f4fd0d520deafd39562d2dea05f424f5" Type="C">
<Para>
<Text>
Pt. 1: power to amend conferred (1.3.2014) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2013/33" id="ckn1g5hk3-00068" Class="UnitedKingdomPublicGeneralAct" Year="2013" Number="33" Title="Financial Services (Banking Reform) Act 2013">Financial Services (Banking Reform) Act 2013 (c. 33)</Citation>
,
<CitationSubRef id="ckn1g5hk3-00069" CitationRef="ckn1g5hk3-00068" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/section/17/3/f" SectionRef="section-17-3-f" Operative="true">ss. 17(3)(f)</CitationSubRef>
,
<CitationSubRef id="ckn1g5hk3-00070" CitationRef="ckn1g5hk3-00068" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/section/148/5" SectionRef="section-148-5">148(5)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/377" id="ckn1g5hk3-00071" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="377" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014">S.I. 2014/377</Citation>
,
<CitationSubRef id="ckn1g5hk3-00072" CitationRef="ckn1g5hk3-00071" URI="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/b" SectionRef="article-2-1-b">art. 2(1)(b)</CitationSubRef>
,
<CitationSubRef id="ckn1g5hk3-00073" CitationRef="ckn1g5hk3-00071" URI="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/2" SectionRef="schedule-part-2">Sch. Pt. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-fca1a1194498d761e05b0682a497636f" Type="F">
<Para>
<Text>
Words in s. 81BA(3) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cora2jy93-00027" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cora2jy93-00028" CitationRef="cora2jy93-00027" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cora2jy93-00029" CitationRef="cora2jy93-00027" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/92/3" SectionRef="article-92-3" Operative="true">92(3)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-fcf98f41282851d36049cd19cc2c93e7" Type="F">
<Para>
<Text>
S. 81AA(3)(b)(ii) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9azoprf4-00049" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9azoprf4-00050" CitationRef="c9azoprf4-00049" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9azoprf4-00051" CitationRef="c9azoprf4-00049" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/29/4" SectionRef="schedule-1-paragraph-29-4" Operative="true">Sch. 1 para. 29(4)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9azoprf4-00052" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9azoprf4-00053" CitationRef="c9azoprf4-00052" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-ff72eeeb46d6d4b597f9e3c9c28b52e7" Type="F">
<Para>
<Text>
S. 81ZBA(2)(b) omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c9b1tkxr4-00005" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c9b1tkxr4-00006" CitationRef="c9b1tkxr4-00005" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2" SectionRef="regulation-1-2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c9b1tkxr4-00007" CitationRef="c9b1tkxr4-00005" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/31/2" SectionRef="schedule-1-paragraph-31-2" Operative="true">Sch. 1 para. 31(2)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c9b1tkxr4-00008" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c9b1tkxr4-00009" CitationRef="c9b1tkxr4-00008" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
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