Regulation 247 Article 33 (cap on inflows)

In Article 33 (cap on inflows)—

(a)

in paragraph 2(a), for “relationship within the meaning of Article 12(1) of Directive 83/349/EEC” substitute “common management relationship”;

(b)

in paragraph 2(b), omit “or (7)”;

(c)

for paragraph (4)(b), substitute—

“(b)
an activity that immediately before exit day would have amounted to consumer credit for the purposes of Directive 2008/48/EC.”;

(d)

paragraph 5, in the second sub-paragraph—

(i)

omit the first sentence;

(ii)

for “EBA shall publish” substitute “PRA must publish”;

(iii)

omit the final sentence.