Regulation 10 Article 8 (ban on resecuritisation)

(1)

Article 8 is amended as follows.

(2)

In paragraph 2—

(a)

in the first subparagraph omit “designated pursuant to Article 29(2), (3) or (4), as applicable,”;

(b)

in the second subparagraph—

(i)

omit “referred to in the first subparagraph of this paragraph”;

(ii)

for “resolution authority”, in both places where it appears, substitute “Bank of England”; and

(c)

omit the third subparagraph.

(3)

In paragraph 5—

(a)

in the first subparagraph for the words from “ESMA,” to “draft regulatory” substitute “the FCA and the PRA, acting jointly, may make”; and

(b)

omit the second subparagraph.