SCHEDULE 3Amendments of the Bank Recovery and Resolution (No.2) Order 2014

Procedural obligations where an undertaking is failing or likely to failI1103

1

Article 181 (interpretation of Part 14) is amended as follows.

2

After “In this Part—” insert—

“crisis prevention measure” has the meaning given in section 48Z(1) of the Banking Act 2009;

3

After the definition of “the regulator” insert—

“supervisory measure” means a power of the FCA or PRA by or under legislation upon which the United Kingdom relied immediately before F1IP completion day to meet its obligations with respect to Article 104.1 of the capital requirements directive;

4

In the definition of “undertaking” for “Article 111 of the capital requirements directive” substitute “ Part 6 of the Capital Requirements Regulations 2013 ”.