SCHEDULE 1Amendments of the Banking Act 2009
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1
The modified version of section 7 substituted by subsection (5) is amended as follows.
2
In subsection (4)(a) for “EEA” substitute “
UK
”
.
3
In subsection (9) for the definitions of “EEA creditor” and “normal insolvency proceedings” substitute—
“UK creditor”, in relation to a third-country institution, means a creditor of the institution who—
a
in the case of an individual, is ordinarily resident in the United Kingdom; and
b
in the case of a body corporate or unincorporated association, has its head office in the United Kingdom.