# The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018, Paragraph 1: Amendment of Commission Delegated Regulation (EU) 2016/778


(1) Commission Delegated Regulation (EU) 2016/778 is amended as follows.
(2) In Article 1 (subject matter)—
(a) omit paragraph (a);
(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) ”;
(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) ”;
(d) omit the words from “Those rules” to the end.
(3) In Article 2 (definitions) at the end insert—
“(4) ‘resolution authority’ means the Bank of England;
(5) ‘institution’ has the meaning given in section 3A(8) of the Banking Act 2009;
(6) ‘group’ has the meaning given in section 3(2)(b) of the Banking Act 2009.”.
(4) Omit Chapter II (deferral of ex post contributions).
(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 ”.
(6) After Article 8 omit the sentence beginning “This regulation shall be binding”.

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Source: https://www.legislation.gov.uk/uksi/2018/1394/schedule/5/paragraph/1 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-and-miscellaneous-provisions-amendment-eu-exit-regulations-2018/schedule-5/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.