SCHEDULE 3Amendments of the Bank Recovery and Resolution (No.2) Order 2014
Minimum requirement for own funds and eligible liabilities: other provisions82
1
Article 148 (meeting minimum requirement through contractual bail-in instruments etc) is amended as follows.
2
In paragraph (1)—
a
in sub-paragraph (b) omit “or 5”;
b
in sub-paragraph (c) omit “or 3”.
3
At the end insert—
4
“Normal insolvency proceedings” has the meaning given in section 3(1) of the Banking Act 2009.