Article 154 Interpretation of Part

In this Part—

• “Common Equity Tier 1 instruments” has the meaning given in section 3(1) of the Banking Act 2009 M1; and

• F1“relevant capital instruments” has the meaning given in section 3(1) of the Banking Act 2009;

• “UK entity” means—

  1. (a)

     an institution which is authorised by the PRA or FCA and is not part of a group subject to supervision on a consolidated basis in accordance with F2the capital requirements regulation and CRR rules; or

  2. (b)

     in relation to a relevant group, a group entity set up in the United Kingdom.