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

Valid from 31/12/2020

Assessment of business organisation plan drawn up for relevant group where the PRA or FCA is the consolidating supervisor U.K.

95.—(1) Article 165 (application and interpretation of Chapter 3 of Part 13) is amended as follows.

(2) In paragraph (1) in sub-paragraph (c), for “Article 52 of the recovery and resolution directive” substitute “ section 48H of the Banking Act 2009 (including that section as applied in consequence of the provision made by section 81BA, 83A, 84 or 89A of that Act) ”.

(3) In paragraph (2)—

(a) omit the definition of “business reorganisation plan”;

(b) in the definition of “four month period” for the words from “transmits” to the end substitute “ receives the business reorganisation plan under paragraph (1)(c) ”;

(c) in the definition of “group institution” for “EEA” substitute “ UK ”;

(d) for the definition of “relevant bail-in power” substitute—

““relevant bail-in power” in relation to a group entity means the power in section 12A(2) of the Banking Act 2009;”;

(e) omit the definition of “UK group entity”.

Commencement Information

I1 Sch. 3 para. 95 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)