# The Securitisation (Amendment) (EU Exit) Regulations 2019, Regulation 27: Article 30 (powers of the competent authorities)


In Article 30—
(a) omit paragraph 1;
(b) in paragraph 2 for “The competent authority” substitute “Competent authorities”;
(c) in paragraph 4—
(i) in the first subparagraph for “The competent authority” substitute “Competent authorities”;
(ii) for the second subparagraph substitute—
“Where a competent authority identifies a material risk to the financial stability of a financial institution or to the financial system as a whole, it must take action to mitigate those risks and, unless it is the PRA, report its findings to the Bank of England.”; and
(d) for paragraph 5 substitute—
“5. Competent authorities shall monitor any suspected circumvention of the obligations set out in Article 6(2) and ensure that sanctions are applied for a circumvention.”.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111179024/regulation/27 (the official version)
Page: https://openlegislation.uk/draft-securitisation-amendment-eu-exit-regulations-2019/regulation-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.