Disapplication of Banking Act 2009 requirement19
After regulation 97 (trade: overlapping offences), insert—
Disapplication of Banking Act 2009 requirement to recognise third-country resolution actions97A
1
The duty of the Bank of England to make a decision under section 89H(2) of the Banking Act 2009 (recognition of third-country resolution actions)24 does not apply in relation to the notification of third-country resolution action in respect of—
a
a designated person, or
b
a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by a designated person.
2
In paragraph (1)—
“designated person” has the same meaning as it has in Chapter 1 of Part 3 (asset-freeze etc.);
“third-country resolution action” has the meaning given in section 89H(7) of the Banking Act 2009.