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5. In section 30C (operational independence)(1)—
(a)for subsection (1), substitute—
“(1) The Bank must make arrangements to ensure that the discharge of its resolution functions (as defined by section 7D(10)) is operationally independent of the discharge of its functions as the PRA.”(2);
(b)omit subsections (5) to (7).
Section 30C was inserted by section 13 of the Bank of England and Financial Services Act 2016 (c.14).
Section 7D was inserted by section 11 of the Bank of England and Financial Services Act 2016.
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