The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 No. 1394

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

Minimum requirement for own funds and eligible liabilities: other provisions

81.—(1) Article 147 (waiver of application of Chapter 4 or 5) is amended as follows.

(2) In the heading omit “or 5”.

(3) In paragraph (2)—

(a) in the opening words—

(i) omit “or 5”;

(ii) for “an EEA parent institution which is a UK institution” substitute “a UK parent institution”;

(b) in sub-paragraph (a) omit “or 3”.

(4) In paragraph (3)—

(a) in the opening words—

(i) omit “or 5”;

(ii) for “UK institution” substitute “group institution”;

(b) in sub-paragraph (b) for “Article 111 of the capital requirements directive” substitute “Part 6 of the Capital Requirements Regulations 2013”;

(c) in sub-paragraph (c)—

(i) for “EEA parent institution” substitute “UK parent institution”;

(ii) omit “or 3”.