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Paragraph 5 Special resolution regime: introduction

Original text. Later amendments are not shown.

After subsection (2) insert—

“(2A)

The Treasury may by regulations made by statutory instrument specify criteria for the determination of the activities, services and operations referred to in the definition of “critical functions”.

(2B)

The power conferred by subsection (2A) includes—

(a)

power to amend or revoke Article 6 of Commission Delegated Regulation (EU) 2016/778; and

(b)

power to amend or repeal subsection (2)(a).

(2C)

A statutory instrument containing regulations under subsection (2A) is subject to annulment in pursuance of a resolution of either House of Parliament.”.