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8.—(1) The Financial Services Act 2012(1) is amended as follows.
(2) In section 57B (duty of Bank to inform Treasury about resolution plans)(2)—
(a)for subsection (2)(b), substitute—
“(b)the Bank’s assessment of the risk that the failing of the institution or entity would pose to the stability of the financial system in the United Kingdom,”;
(b)in subsection (7), omit the definition of “systemic risk”.
(3) In section 66 (memorandum of understanding: international organisations)—
(a)in subsection (1), omit “the European Supervisory Authorities, EU institutions and other”;
(b)omit subsections (2) and (6);
(c)in subsection (7), omit “the European Supervisory Authorities, EU institutions and other”.
(4) In section 82(3)(a) (publication of reports of inquiries and investigations), omit “, enforceable EU obligation”.
(5) For section 93(8B)(3) (interpretation of Part 7), substitute—
“(8B) References to Article 5 of the market abuse regulation include—
(a)any EU regulation, originally made under that Article, which is retained direct EU legislation, and
(b)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under that Article on or after exit day.”(4).
Section 57B was inserted by section 36 of the Bank of England and Financial Services Act 2016 (c.14).
Subsection (8B) was inserted by S.I. 2016/680.
1978 c.30. The definition of “subordinate legislation” in section 21 of that Act is amended by paragraph 19 of Schedule 8 to the European Union (Withdrawal) Act 2018 (c.16).
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