PART 2 Amendment of Primary Legislation made under the European Communities Act 1972
CHAPTER 1 Amendment of the Financial Services and Markets Act 2000
CHAPTER 2 Amendment of the Banking Act 2009
5.Removal of impediments to the exercise of stabilisation powers etc.
7.In section 6B (mandatory write-down, conversion, etc of capital instruments)...
8.In section 6C (mandatory reduction instruments: implementation of requirements of...
9.Bail-in: sequence of write-down and conversion of capital instruments and liabilities
12.Pre-conditions for financial assistance: duty of Bank to give information
13.Cases where mandatory write-down, conversion etc. applies: banking group companies
14.Groups: sale to commercial purchaser and transfer to bridge bank: holding companies
15.Groups: transfer to asset management vehicle: holding companies
17.For the heading for section 81C substitute “ Sections 81AA...
19.In the heading for section 81CA, after “Section 81BA” insert...
20.In section 81CA(1), after “section 81BA” insert “ or section...
PART 3 Amendment of Secondary legislation made under the European Communities Act 1972
26.Amendment of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999
27.Amendment of the Credit Institutions (Reorganisation and Winding up) Regulations 2004
28.Amendment of the Banking Act 2009 (Restriction of Special Bail-in Provisions, etc) Order 2014
29.Amendment of the Bank Recovery and Resolution (No.2) Order 2014
32.In article 42(4), after “reasoned” insert “ and substantiated ”....
35.In article 61(2), after “take resolution action” insert “ in...
37.In article 64(2)— (a) in the definition of “relevant proposals”—...
38.In article 66— (a) in paragraph (3)(a), for “four month”...
39.In article 68(2), at the end insert— “response period” means—...
40.In article 71(1), for “four months” substitute “ the response...
41.In article 72(1), for the words from “within four months”...
42.In article 75(2), at the end insert— “response period” means—...
43.After article 75, insert— Report on substantive impediments to the...
44.In article 78(b), for “four months” substitute “ the response...
45.In article 122(1)(a), omit “expressed as a percentage of the...
46.In article 123(6), for the words from “criteria” to the...
47.In article 125(2)— (a) in the definition of “minimum consolidated...
49.In article 127(1), after “requirement” insert “ for a resolution...
50.In article 128(1), in the opening words after “requirement” insert...
51.In article 129(1), after “requirement” insert “ for each resolution...
52.In article 131(1), after “requirement” insert “ for each resolution...
53.In article 135(6)(a), for “Article 45.6 of the recovery and...
54.In articles 139(1) and 146(1), omit “expressed as a percentage...
55.In article 142(6)(a), after “recovery and resolution directive” insert “...
56.In article 195(a), after “Union subsidiary” insert “ or a...
57.In article 196— (a) in paragraph (1)(a), after “Union subsidiary”...
58.In Schedule 1, in paragraph 4(2), in paragraphs (q) and...
59.In Schedule 2, in paragraph 2— (a) in sub-paragraph (a),...
PART 4 Amendment of legislation made under the European Union (Withdrawal) Act 2018
CHAPTER 1 Amendment of Primary Legislation
62.In section 3— (a) in the definition of “resolution entity”—...
63.In section 48B (special bail-in provision), in subsection (8)(ea), omit...
64.In section 48D (general interpretation of section 48B), in subsection...
65.In section 81ZZBA (sale to commercial purchaser and transfer to...
66.In section 81ZZBB (assessment of conditions for section 81ZZBA)—
67.In section 81ZBB (transfer to asset management vehicle: supplemental powers...
68.In section 81ZBC (assessment of conditions for section 81ZBB)—
69.In section 81BB (bail-in option: supplemental powers in relation to...
70.In section 81BC (assessment of conditions for section 81BB)—
71.In section 89A (application to investment firms), in the Table...
72.In section 89JA (resolution of UK branches of third-country institutions),...
CHAPTER 4 Revocation of technical standards under the Recovery and Resolution Directive
PART 5 Other Provision made under the European Communities Act 1972
CHAPTER 1 Suspension of obligations, interests and rights
83.Suspension of obligations prior to exercise of stabilisation powers
84.Suspension of security interests prior to exercise of stabilisation powers
85.Suspension of termination rights prior to exercise of stabilisation powers
86.Suspension prior to exercise of stabilisation powers: procedure
89.Suspension of obligations when Bank is exercising a stabilisation power
CHAPTER 3 Transfer of losses or capital between members of a group
CHAPTER 4 Contractual recognition of bail-in
94.Requirement to include a contractual term recognising bail-in
98.Evidence to demonstrate compliance with regulation 94 obligation
105.Exercise of power to remove impediments to resolvability
106.Exclusion of liabilities from the minimum requirement for own funds and eligible liabilities
107.Exercise of resolution powers where contractual term not included