(1)No relevant regulation or rule shall apply to the Bank of Ireland as a consequence of the Bank of Ireland ceasing to be or intending to cease to be an authorised bank under section 4(1)(b).
(2)In subsection (1), a “relevant regulation or rule” means—
(a)a regulation made under section 215 of the 2009 Act; or
(b)a rule made by the Bank of England under any such regulation,
which makes provision about the case where an authorised bank ceases or intends to cease issuing banknotes voluntarily.