SCHEDULE 1Amendments of the Banking Act 2009

Mandatory write-down, conversion etc of capital instrumentsI18

1

Section 6A (cases where mandatory write-down, conversion, etc applies) is amended as follows.

2

In subsection (4)(d), for the words from the beginning to “directive” substitute “ the Bank of England makes a determination ”.

3

In subsection (9)—

a

omit the definition of “appropriate authority”;

b

in the definition of “consolidated basis” for “Article 2.1(7) of the recovery and resolution directive” substitute “ Article 4.1(47) and (48) of the capital requirements regulation ”.