http://www.legislation.gov.uk/eur/2014/241/chapter/IV/section/3Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions (Text with EEA relevance)Commission Delegated Regulation (EU) No 241/2014Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions (Text with EEA relevance)King's Printer of Acts of Parliamenthttps://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0241-20201223texttext/xmlen2026-02-03Expert Participation2025-11-30Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions (Text with EEA relevance)RegulationFinancial Services and Markets Act 2023Sch. 1 Pt. 13s. 1(4)s. 86(3)CHAPTER IVGENERAL REQUIREMENTS
SECTION 3 Temporary waiver from deduction from own funds
Article 33Temporary waiver from deduction from own funds for the purposes of Article 79(1) of Regulation (EU) No 575/20131.

A temporary waiver shall be of a duration that does not exceed the timeframe envisaged under the financial assistance operation plan. That waiver shall not be granted for a period longer than 5 years.

2.

The waiver shall apply only in relation to new holdings of instruments in the financial sector entity subject to the financial assistance operation.

3.

For the purposes of providing a temporary waiver for deduction from own funds, a competent authority may deem the temporary holdings referred to in Article 79(1) of Regulation (EU) No 575/2013 to be held for the purposes of a financial assistance operation designed to reorganise and save a financial sector entity where the operation is carried out under a plan and approved by the competent authority, and where the plan clearly states phases, timing and objectives and specifies the interaction between the temporary holdings and the financial assistance operation.