This Regulation lays down rules specifying:

1. (a)

   F1...

2. (b)

   the criteria for the determination of the activities, services and operations referred to in F2the definition of “critical functions” in section 3(1) of the Banking Act 2009 (including as applied by that Act in relation to persons other than a bank);

3. (c)

   the criteria for the determination of the business lines and associated services referred to in F3the definition of “core business lines” in section 48B(14) of the Banking Act 2009 (including as applied in relation to other persons by that Act).

F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

For the purposes of this Regulation, the following definitions shall apply:

1. (1)

   ‘deferral period’ means a period of up to six months;

2. (2)

   ‘function’ means a structured set of activities, services or operations that are delivered by the institution or group to third parties irrespective from the internal organisation of the institution;

3. (3)

   ‘business line’ means as a structured set of activities, processes or operations that are developed by the institution or group for third parties to achieve the organisation's goals.

4. (4)

   F5‘resolution authority’ means the Bank of England;

5. (5)

   ‘institution’ has the meaning given in section 3A(8) of the Banking Act 2009;

6. (6)

   ‘group’ has the meaning given in section 3(2)(b) of the Banking Act 2009.