Paragraph 7 The Banking Act 2009 (Restriction of Special Bail-in Provision, etc.) Order 2014I1

(1)

The Banking Act 2009 (Restriction of Special Bail-in Provision, etc.) Order 2014 is amended as follows.

(2)

In article 2 (interpretation)—

(a)

in paragraph (1)—

F1(i)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(ii)

in the definition of “transferable securities” for the words from “4.1(44)” to “instruments” substitute, “2.1(24) of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012”;

(b)

in paragraph (2) for “Order 2016 comes” substitute “ (Amendment) (EU Exit) Regulations 2018 come ”.

(3)

In article 5 (set-off and netting: meaning of “derivative” etc.), in paragraph (1), at the end insert “ as it F2forms part of retained EU law”.

(4)

In article 8 (review), omit paragraph (2).

Annotations

Textual amendments

F1: Sch. 4 para. 7(2)(a)(i) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 78
F2: Words in Sch. 4 para. 7(3) substituted (31.12.2020 immediately before IP completiton day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), reg. 1(4), Sch. para. 1(1)(2)(k)(iv)

Commencement

I1: Sch. 4 para. 7(3) in force at 21.12.2018 and Sch. 4 para. 7 in force otherwise at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)(3)(e)