{
  "url": "https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018/schedule-5/paragraph-1",
  "json_url": "https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018/schedule-5/paragraph-1.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/5/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": "Amendment of Commission Delegated Regulation (EU) 2016/778",
  "text": "(1) Commission Delegated Regulation (EU) 2016/778 is amended as follows.\n(2) In Article 1 (subject matter)—\n(a) omit paragraph (a);\n(b) in paragraph (b) for the words from “point (35)” to the end substitute “ the definition of “critical functions” in section 3(1) of the Banking Act 2009 (including as applied by that Act in relation to persons other than a bank) ”;\n(c) in paragraph (c) for the words from “point (36)” to the end substitute “ the definition of “core business lines” in section 48B(14) of the Banking Act 2009 (including as applied in relation to other persons by that Act) ”;\n(d) omit the words from “Those rules” to the end.\n(3) In Article 2 (definitions) at the end insert—\n“(4) ‘resolution authority’ means the Bank of England;\n(5) ‘institution’ has the meaning given in section 3A(8) of the Banking Act 2009;\n(6) ‘group’ has the meaning given in section 3(2)(b) of the Banking Act 2009.”.\n(4) Omit Chapter II (deferral of ex post contributions).\n(5) In Article 6 (criteria relating to the determination of critical functions), in paragraph (2), in point (b), for “, national or European” substitute “ or national ”.\n(6) After Article 8 omit the sentence beginning “This regulation shall be binding”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 5 para. 1 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/5/paragraph/1",
    "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."
}