{
  "url": "https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018/schedule-1/paragraph-41",
  "json_url": "https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018/schedule-1/paragraph-41.json",
  "legislation": "uksi/2018/1394",
  "legislation_title": "The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018",
  "legislation_url": "https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018",
  "path": "schedule/1/paragraph/41",
  "kind": "paragraph",
  "number": "41",
  "heading": "Third-country resolution actions",
  "text": "(1) Section 89H (recognition of third-country resolution actions) is amended as follows.\n(2) In subsection (4)—\n(a) in paragraph (a) omit “or another EEA state”;\n(b) in paragraph (c)—\n(i) for “an EEA state” substitute “ the United Kingdom ”;\n(ii) for “EEA state” substitute “ United Kingdom ”;\n(iii) omit the word “third” before “country concerned”;\n(c) in paragraph (e) omit “or contrary to a provision of EU law”.\n(3) Omit subsection (6).\n(4) In subsection (7)—\n(a) omit the definitions of “EU institution” and “normal insolvency proceedings”;\n(b) for the definition of “third-country institution” substitute—\n““third-country institution” means an institution established in a country or territory other than the United Kingdom that would, if it were established within the United Kingdom, be regarded as a bank, building society, credit union or investment firm;”;\n(c) for the definition of “third-country parent undertaking” for the words from “has” to the end substitute “ means a parent undertaking, parent financial holding company or a parent mixed financial holding company established in a country or territory outside the United Kingdom; ”;\n(d) in the definition of “third-country resolution action”—\n(i) in the opening words, for “law of a third country” substitute “ law of a country or territory outside the United Kingdom ” and for “an EU institution” substitute “ a bank, building society, credit union or investment firm, ”;\n(ii) in paragraph (a) for “EU institution” substitute “ a bank, building society, credit union or investment firm ”;\n(iii) in paragraph (b) for “third country” substitute “ country or territory concerned ”;\n(e) omit the definition of “third country”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 1 para. 41 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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2018/1394/schedule/1/paragraph/41",
    "retrieved_at": "2026-10-28T22:49:58.041729+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}