Article 8 (ban on resecuritisation)U.K.
This section has no associated Explanatory Memorandum
10.—(1) Article 8 is amended as follows.
(2) In paragraph 2—
(a)in the first subparagraph omit “designated pursuant to Article 29(2), (3) or (4), as applicable,”;
(b)in the second subparagraph—
(i)omit “referred to in the first subparagraph of this paragraph”;
(ii)for “resolution authority”, in both places where it appears, substitute “ Bank of England ”; and
(c)omit the third subparagraph.
(3) In paragraph 5—
(a)in the first subparagraph for the words from “ESMA,” to “draft regulatory” substitute “ the FCA and the PRA, acting jointly, may make ”; and
(b)omit the second subparagraph.
Commencement Information
I1Reg. 10 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)