Article 2 Interpretation

In this Order—

• “the Act” means the Banking Act 2009;

• F1“bail-in liability has the meaning given in section 2(1) of the Banking Act 2009

• “the Bank” means the Bank of England;

• “banking institution” means—

  1. (a)

     a bank M1;

  2. (b)

     an investment firm M2;

  3. (c)

     a banking group company;

  4. (d)

     F2a third-country institution (within the meaning of section 89JA of the Act (resolution of UK branches of third-country institutions)).

• F3...

• “netting arrangements” has the meaning given in section 48P(2) of the Act;

• “relevant banking institution” has the meaning given in article 3(2);

• “set-off arrangements” has the meaning given in section 48P(2) of the Act;

• “title transfer collateral arrangements” has the meaning given in section 48P(2) of the Act;

• “transferable securities” has the meaning given in Article F42.1(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, but does not include securities (within the meaning of section 14 of the Act M3) issued by the relevant banking institution.

References to sections of the Act include, as the context requires, those sections F5as applied with or without modifications by that Act, as that Act has effect on the day on which the Bank Recovery and Resolution F6(Amendment) (EU Exit) Regulations 2018 come into force..