The Financial Holding Companies (Approval etc.) and Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) (EU Exit) Regulations 2020

O-SIIs U.K.

17.—(1) In regulation 56—

(a) in the opening words, for “(a) to (c)” substitute “(a) to (d)”;

(b) for the new sub-paragraphs (a) to (c), 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.”.

(2) In regulation 57, for the words from “in paragraph (2)(b)” to the end, substitute—

“—

(a) 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 (2)—

(i) for “relevant body”, each time it occurs, substitute “relevant institution”,

(ii) in sub-paragraph (b), omit “or the European Union”,

(iii) in sub-paragraph (c), for “relevant body’s” substitute “relevant institution’s”,

(iv) in sub-paragraph (d), after “or” insert “, in the case of an institution,””.

(3) In regulation 58, for paragraph (c), substitute—

“(c) in paragraph (3)—

(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”.”.

(4) After regulation 58, insert—

“Regulation 33 (Appeals)

58A.   In regulation 33, after “the person”, insert “or a group for which the person is UK parent institution, UK parent financial holding company, or UK parent mixed financial holding company (a relevant group”),”.”

Commencement Information

I1 Reg. 17 in force at 27.11.2020, see reg. 1(2)