PART NINE

Regulations, enhanced prudential measures and technical standards

Enhanced prudential measures: effect of revocation
Article 458B
1.
Paragraph 2 applies where—
a
the FPC revokes an enhanced prudential measures direction in accordance with section 9J of the 1998 Act; or
b
the FPC withdraws an enhanced prudential measures recommendation and notifies the competent authority of that withdrawal.
2
A competent authority which has introduced an enhanced prudential implementation action must consider whether it is appropriate to cease to implement that action.
Substituted by Corrigendum to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).
Arts. 458-458C substituted for Art. 458 (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 201 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Pt. 9 heading substituted (31.12.2020) by The Capital Requirements (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1401), regs. 1(3), 200 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)