Early intervention with respect to groups where the PRA or FCA is the consolidating supervisorU.K.
This section has no associated Explanatory Memorandum
62.—(1) Article 110(2) (application and interpretation of Chapter 2 of Part 8) is amended as follows.
(2) In the definition of “measure for early intervention”—
(a)in paragraph (a) omit “in relation to a UK group entity,”;
(b)omit paragraph (b).
(3) Omit the definition of “non-UK group entity”.
(4) In the definition of “temporary manager” omit paragraph (b).
(5) In the definition of “UK group entity”, in paragraph (a)—
(a)for “EEA” substitute “ UK ”;
(b)omit “, if it is set up in the United Kingdom”.
Commencement Information
I1Sch. 3 para. 62 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)