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

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

Early intervention with respect to groups where the PRA or FCA is the consolidating supervisor U.K.

62.—(1) Article 110(2) (application and interpretation of Chapter 2 of Part 8) is amended as follows.

(2) In the definition of “measure for early intervention”—

(a) in paragraph (a) omit “in relation to a UK group entity,”;

(b) omit paragraph (b).

(3) Omit the definition of “non-UK group entity”.

(4) In the definition of “temporary manager” omit paragraph (b).

(5) In the definition of “UK group entity”, in paragraph (a)—

(a) for “EEA” substitute “ UK ”;

(b) omit “, if it is set up in the United Kingdom”.

Commencement Information

I1 Sch. 3 para. 62 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)