Paragraph 8 Mandatory write-down, conversion etc of capital instrumentsI1
(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 ”.
Annotations
Commencement
- I1
Sch. 1 para. 8 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)