{
  "url": "https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018/schedule-3/paragraph-118",
  "json_url": "https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018/schedule-3/paragraph-118.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/3/paragraph/118",
  "kind": "paragraph",
  "number": "118",
  "heading": "Information to be contained in a group resolution plan",
  "text": "(1) Schedule 2 is amended as follows.\n(2) In paragraph 1(3)(a) for the words from “Article 100” to the end substitute “ section 228 or 229 of the Banking Act 2009 ”.\n(3) In paragraph 2—\n(a) in sub-paragraph (a) for “action” substitute “ tools that would be applied, the resolution powers that would be exercised ”;\n(b) in sub-paragraphs (d)(i) and (ii) for “resolution action” in both cases substitute “ the application of resolution tools or the exercise of resolution powers ”;\n(c) in sub-paragraph (e)(i)—\n(i) for “resolution action” substitute “ the application of resolution tools or the exercise of resolution powers ”;\n(ii) for “a resolution authority or” substitute “ the Bank under Part 1 of the Banking Act 2009 or a ”;\n(d) at the end of sub-paragraph (h) add “ and ”;\n(e) in sub-paragraph (i)—\n(i) for “resolution action” substitute “ application of resolution tools or the exercise of resolution powers ”; and\n(ii) omit “; and”;\n(f) omit sub-paragraph (j).\n(4) Omit paragraph 3.\n(5) At the end of the Schedule add—\n“4 In this Schedule, “group resolution” means—\n(a) the taking of resolution action at the level of—\n(i) a parent undertaking; or\n(ii) an institution,\nwhich forms part of a group that is subject to consolidated supervision in accordance with Part 6 of the Capital Requirements Regulations 2013; or\n(b) the co-ordination of the application of resolution tools and the exercise of resolution powers by the Bank in relation to resolution entities that meet the conditions for resolution.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 3 para. 118(5) substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 77(7)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 3 para. 118 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/3/paragraph/118",
    "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."
}