Article 33 (cap on inflows)
This section has no associated Explanatory Memorandum
247. In Article 33 (cap on inflows)—
(a)in paragraph 2(a), for “relationship within the meaning of Article 12(1) of Directive 83/349/EEC” substitute “common management relationship”;
(b)in paragraph 2(b), omit “or (7)”;
(c)for paragraph (4)(b), substitute—
“(b)an activity that immediately before exit day would have amounted to consumer credit for the purposes of Directive 2008/48/EC.”;
(d)paragraph 5, in the second sub-paragraph—
(i)omit the first sentence;
(ii)for “EBA shall publish” substitute “PRA must publish”;
(iii)omit the final sentence.