# The Bank of England Act 1998 (Macro-prudential Measures) (No.2) Order 2015, Article 3: Macro-prudential measures


(1) Subject to paragraph (2), each of the measures set out in article 4 may be applied on, or by reference to, an individual basis or a consolidated basis.
(2) Where a measure set out in article 4(1)(a) or (d) is applied to the holding company of a UK bank or of a UK investment firm, the measure may only be applied to that holding company on, or by reference to, a consolidated basis.

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Source: https://www.legislation.gov.uk/uksi/2015/905/article/3 (the official version)
Page: https://openlegislation.uk/bank-of-england-act-1998-macro-prudential-measures-no2-order-2015/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.