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Paragraph 7 Objectives and Code

Original text. Later amendments are not shown.

(1)

Section 4 (special resolution objectives) is amended as follows.

(2)

In subsection (4)(a)—

(a)

for the words from “authorised” to “Article 25,” substitute “authorised or recognised in the United Kingdom in accordance with Article 14 or 25”;

(b)

at the end insert “, as that Regulation had effect on the day on which the Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (SI 000/2018) were made”.

(3)

For subsection (7) substitute—

“(7)

Objective 5 is to protect investors and depositors to the extent that they have investments or deposits covered by the FSCS.”.