Paragraph 84 Requirement to write down or convert capital instruments

(1)

Article 150 (determinations pursuant to Article 59.3 of the recovery and resolution directive: preliminary steps for UK group entities) is amended as follows.

(2)

In the heading for “pursuant to Article 59.3 of the recovery and resolution directive” substitute “under section 6A and 81AA of the Banking Act 2009”.

(3)

In paragraph (1), for sub-paragraphs (a) and (b) (and the preceding “—”), substitute “to the appropriate regulator”.

(4)

In paragraph (2)—

(a)

omit the words from “(where appropriate” to “established)”;

(b)

for sub-paragraphs (a) to (d) (and the preceding “—”) substitute “to the appropriate regulator”.

(5)

Omit paragraphs (4) and (5).