Interpretation2

1

In these Regulations—

  • “the Act” means the Banking Act 2009;

  • “the Bank” means the Bank of England;

  • “banking institution” means—

    1. a

      a bank4;

    2. b

      a building society (within the meaning of section 119 of the Building Societies Act 1986)5;

    3. c

      an investment firm6);

    4. d

      a banking group company;

  • “Case 1”, “Case 2”, “Case 3” and “Case 4” have the meanings given in regulation 3;

  • “initial instrument” has the meaning given in regulation 6(6);

  • “relevant banking institution” has the meaning given in regulation 6(6);

  • “relevant persons” has the meaning given in regulation 5(2);

2

References to sections of the Act include, as the context requires, those sections as applied by section 89A of the Act7 (application to investment firms).

3

In these Regulations, “relevant compensation order” means—

a

in relation to Case 1, the bail-in compensation order8 required to be made in relation to the resolution instrument;

b

in relation to Case 2, Case 3 or Case 4, the third party compensation order required to be included in the compensation scheme order or the resolution fund order by regulation 4.