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Paragraph 8 Mandatory write-down, conversion etc of capital instruments

Original text. Later amendments are not shown.

(1)

Section 6A (cases where mandatory write-down, conversion, etc applies) is amended as follows.

(2)

In subsection (4)(d), for the words from the beginning to “directive” substitute “the Bank of England makes a determination”.

(3)

In subsection (9)—

(a)

omit the definition of “appropriate authority”;

(b)

in the definition of “consolidated basis” for “Article 2.1(7) of the recovery and resolution directive” substitute “Article 4.1(47) and (48) of the capital requirements regulation”.