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Regulation 68 Article 7 (derogation from the application of prudential requirements on an individual basis)

Original text. Later amendments are not shown.

In Article 7 (derogation from the application of prudential requirements on an individual basis)—

(a)

in paragraph 1, for “by the Member State concerned” substitute “in the United Kingdom”;

(b)

in paragraph 2, for the words from “where the” to “the institution”, substitute “where the parent undertaking of the subsidiary is a UK financial holding company or a UK mixed financial holding company”;

(c)

in paragraph 3—

(i)

for “parent institution in a Member State where that institution is subject to authorisation and supervision by the Member State concerned, and” substitute “UK parent institution, where”;

(ii)

omit the words from “The competent authority which makes” to the end.