# The Russia (Sanctions) (EU Exit) (Amendment) (No. 17) Regulations 2022, Regulation 19: Disapplication of Banking Act 2009 requirement


After regulation 97 (trade: overlapping offences), insert—
“Disapplication of Banking Act 2009 requirement to recognise third-country resolution actions
97A. (1) The duty of the Bank of England to make a decision under section 89H(2) of the Banking Act 2009 (recognition of third-country resolution actions) does not apply in relation to the notification of third-country resolution action in respect of—
(a) a designated person, or
(b) a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by a designated person.
(2) In paragraph (1)—
“designated person” has the same meaning as it has in Chapter 1 of Part 3 (asset-freeze etc.);
“third-country resolution action” has the meaning given in section 89H(7) of the Banking Act 2009.”

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Source: https://www.legislation.gov.uk/uksi/2022/1331/regulation/19 (the official version)
Page: https://openlegislation.uk/russia-sanctions-eu-exit-amendment-no-17-regulations-2022/regulation-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.