# Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions (Text with EEA relevance), Article 33: Temporary waiver from deduction from own funds for the purposes of Article 79(1) of Regulation (EU) No 575/2013

Extent: E+W+S+N.I.

1. A temporary waiver shall be of a duration that does not exceed the timeframe envisaged under the financial assistance operation plan. That waiver shall not be granted for a period longer than 5 years.
2. The waiver shall apply only in relation to new holdings of instruments in the financial sector entity subject to the financial assistance operation.
3. For the purposes of providing a temporary waiver for deduction from own funds, a competent authority may deem the temporary holdings referred to in Article 79(1) of Regulation (EU) No 575/2013 to be held for the purposes of a financial assistance operation designed to reorganise and save a financial sector entity where the operation is carried out under a plan and approved by the competent authority, and where the plan clearly states phases, timing and objectives and specifies the interaction between the temporary holdings and the financial assistance operation.

---
Source: https://www.legislation.gov.uk/eur/2014/241/article/33 (the official version)
Page: https://openlegislation.uk/eu-regulation-2014-241/article-33
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.