# The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018, Paragraph 41: Third-country resolution actions


(1) Section 89H (recognition of third-country resolution actions) is amended as follows.
(2) In subsection (4)—
(a) in paragraph (a) omit “or another EEA state”;
(b) in paragraph (c)—
(i) for “an EEA state” substitute “ the United Kingdom ”;
(ii) for “EEA state” substitute “ United Kingdom ”;
(iii) omit the word “third” before “country concerned”;
(c) in paragraph (e) omit “or contrary to a provision of EU law”.
(3) Omit subsection (6).
(4) In subsection (7)—
(a) omit the definitions of “EU institution” and “normal insolvency proceedings”;
(b) for the definition of “third-country institution” substitute—
““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;”;
(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; ”;
(d) in the definition of “third-country resolution action”—
(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, ”;
(ii) in paragraph (a) for “EU institution” substitute “ a bank, building society, credit union or investment firm ”;
(iii) in paragraph (b) for “third country” substitute “ country or territory concerned ”;
(e) omit the definition of “third country”.

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Source: https://www.legislation.gov.uk/uksi/2018/1394/schedule/1/paragraph/41 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018/schedule-1/paragraph-41
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.