The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 No. 1394

SCHEDULE 3 U.K. Amendments of the Bank Recovery and Resolution (No.2) Order 2014

82.—(1) Article 148 (meeting minimum requirement through contractual bail-in instruments etc) is amended as follows. U.K.

(2) In paragraph (1)—

(a) in sub-paragraph (b) omit “or 5”;

(b) in sub-paragraph (c) omit “or 3”.

(3) At the end insert—

“(4) “Normal insolvency proceedings” has the meaning given in section 3(1) of the Banking Act 2009.”

Commencement Information

I1 Sch. 3 para. 82 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)