Article 90 Amendment of authorised agreement

(1)

This article applies where—

(a)

the parties to an agreement authorised under this Chapter wish to amend the agreement; and

(b)

rules made by the PRA or FCA under FSMA require the amendment to be authorised before it is made.

(2)

If the F1UK parent undertaking submits to the appropriate regulator an application for authorisation of the amendment (“the amendment application”), the appropriate regulator must treat the amendment application as if it were an application for authorisation of a group financial support agreement.

(3)

Articles 84 to 89 apply for that purpose, but have effect in relation to the amendment application as if—

(a)

each reference to a group financial support agreement were a reference to the amendment set out in the amendment application; and

(b)

each reference to the application were a reference to the amendment application.

Annotations

Textual amendments

F1: Word in art. 90(2) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 52(2); 2020 c. 1, Sch. 5 para. 1(1)

Notes on the whole SI

Textual amendments

F1: Order revoked (14.12.2023 for the revocation of art. 227) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(x)