{
  "url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-amendment-eu-exit-regulations-2020/regulation-97",
  "json_url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-amendment-eu-exit-regulations-2020/regulation-97.json",
  "legislation": "ukdsi/2020/9780348213676",
  "legislation_title": "The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020",
  "legislation_url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-amendment-eu-exit-regulations-2020",
  "path": "regulation/97",
  "kind": "regulation",
  "number": "97",
  "heading": "Content of required term",
  "text": "A term meets the requirements of this regulation where all creditors or parties to the agreement creating the liability—\n(a) recognise that the liability may be subject to the exercise of a power by the Bank of England to make special bail-in provision or mandatory reduction provision; and\n(b) agree to be bound by any reduction of the principal or outstanding amount due or by any conversion or cancellation effected by the exercise of that power.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2020/9780348213676/regulation/97",
    "retrieved_at": "2026-10-30T14:48:37.128063+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."
}