Regulation 35 Section 137J (rules about recovery plans: duty to consult)

for the definition of “institution” substitute—

• ““institution” means—

  1. (a)

     a credit institution, other than an entity mentioned in Article 2.5 of the capital requirements directive; or

  2. (b)

     an investment firm as defined in Article 4.1(2) of the capital requirements regulation that is subject to the initial capital requirement specified in rules made by a regulator for the purpose of implementing Article 28(2) of the capital requirements directive;”;

in the definition of “institution authorised in the UK”, for “an institution which is an authorised person and” substitute “an authorised person who is”.