The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 No. 1394

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

Provision of group financial support U.K.

56.—(1) Article 101 (interpretation of Chapter 4 of Part 7) is amended as follows.

(2) In paragraph (1)—

(a) after “In this Chapter—” insert—

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

(b) omit the definition of “college members”;

(c) in the definition of “group entity” for “, FCA or other competent authority” substitute “ or FCA ”;

(d) for the definition of “relevant notice” substitute—

““relevant notice” means a notice—

(a) given by a group entity;

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

(c) required by rules made by the PRA or FCA under Part 9A of FSMA;”.

Commencement Information

I1 Sch. 3 para. 56 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)