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

Minimum requirement for own funds and eligible liabilities: other provisions

82.—(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.