SCHEDULE 1Amendments of the Banking Act 2009
Objectives and CodeI17
1
Section 4 (special resolution objectives) is amended as follows.
2
In subsection (4)(a)—
a
for the words from “authorised” to “Article 25,” substitute “
authorised or recognised in the United Kingdom in accordance with Article 14 or 25
”
;
b
at the end insert “
, as that Regulation had effect on the day on which the Bank Recovery and Resolution and Miscellaneous Provisions (Amendment)
(EU Exit) Regulations 2018 (S.I. 2018/1394) were made
”
.
3
For subsection (7) substitute—
7
Objective 5 is to protect investors and depositors to the extent that they have investments or deposits covered by the FSCS.