G-SIIsU.K.
16.—(1) In regulation 50, in the new paragraph (2), for sub-paragraphs (a) to (d), substitute—
“(a)a group, the parent undertaking of which is—
(i)a UK parent institution,
(ii)a UK parent financial holding company, or
(iii)a UK parent mixed financial holding company, or
(b)an institution authorised in the United Kingdom which is not a subsidiary of a body mentioned in sub-paragraph (a)(i) to (iii).”
(2) In regulation 51—
(a)after the opening words, insert—
“(za)in paragraph (1)—
(i)for “particular body”, substitute “particular group or body”,
(ii)for “relevant body”, both times it occurs, substitute “relevant institution”;”;
(b)in paragraph (a), in the new paragraph (2), for “Where the relevant body” substitute “Where the parent undertaking of the relevant institution”;
(c)for paragraph (b), substitute—
“(b)in paragraph (3)—
(i)in sub-paragraph (a), for “to which the relevant body belongs” substitute “concerned”,
(ii)in sub-paragraph (e) omit the words from “, including” to the end.”;
(d)after paragraph (b), insert—
“(c)in paragraph (5), for “relevant body”, each time it occurs, substitute “relevant institution”.”.
(3) After regulation 52, insert—
“Regulation 25 (re-allocation in exercise of sound supervisory judgment)
52A. In regulation 25(a)—
(a)after “determine that”, insert “a group or”;
(b)after “fact that” insert “the group or”.”
(4) In regulation 53, for paragraph (b), substitute—
“(b)in paragraph (5)—
(i)for the “bodies concerned” substitute “to the UK parent institution, UK parent financial holding company, UK parent mixed financial holding company or institution concerned”,
(ii)omit “, the Commission, the ESRB and EBA”.”
(5) After regulation 53, insert—
“Regulation 27 (Appeals)
53A. In regulation 27—
(a)in paragraph (1)—
(i)in sub-paragraph (a), after “the person”, insert “or a group for which the person is UK parent institution, UK parent financial holding company, UK parent mixed financial holding company (a “relevant group”),”,
(ii)in sub-paragraph (b), after “person”, insert “or the relevant group”;
(b)in paragraph (2), at the end, insert “or the relevant group”.”
Commencement Information
I1Reg. 16 in force at 27.11.2020, see reg. 1(2)