Paragraph 2

in the definition of “branch”, for “an EEA or UK” there were substituted “a UK or Gibraltar”;

in the definition of “capital requirements directive”, at the end, there were inserted “as it had effect immediately before exit day”;

in the definition of “capital requirements regulation”, at the end, there were inserted “as it forms part of domestic law under section 3 of the European Union (Withdrawal) Act 2018”;

in the definition of “directive reorganisation measure”, at the end, there were inserted “but does not include any “third-country resolution action” within the meaning of section 89H of the Banking Act 2009^f2”;

in the definition of “directive winding-up proceedings”, the reference in the definition in Article 2 of the reorganisation and winding-up directive to “a Member State” were a reference to “Gibraltar”;

the definitions of “EEA credit institution”, “EEA creditor”, “EEA regulator” and “EEA State” were omitted;

in the appropriate places there were inserted—

• ““Gibraltarian credit institution” means a Gibraltar undertaking of the kind mentioned in Article 4(1)(1) and 4(1)(17) of the capital requirements regulation and subject to the exclusion of the undertakings referred to in Article 2(5)(2) to (23) of the capital requirements directive;

• “Gibraltarian regulator” means the Gibraltar Financial Services Commission;”;

for the definition of “home state regulator” there were substituted—

• ““home state regulator” means the Gibraltar Financial Services Commission;”;

the definition of “official language” were omitted;

in the definition of “recovery and resolution directive”, at the end, there were inserted “as it had effect immediately before exit day”;

in the definition of “the reorganisation and winding up directive”, at the end, there were inserted “as it had effect immediately before exit day”;

in sub-paragraphs (a) and (b), for “the relevant EEA State” both times it occurs, there were substituted “Gibraltar”;

the words after sub-paragraph (b) were omitted.