The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 No. 632

PART 2 U.K. Amendments to the Act

CHAPTER 4 U.K. Part 5 of the Act: performance of regulated activities

Section 71I (sections 71B to 71H: interpretation) U.K.

30.—(1) Section 71I M1 (sections 71B to 71H: interpretation) is amended as follows.

(2) In subsection (2)(b) for “an EEA parent” substitute “ a UK parent ”.

(3) In subsection (3)—

(a) for “an EEA parent” substitute “ a UK parent ”;

(b) for “any EEA state” substitute “ the United Kingdom ”.

(4) In subsection (4) for “Article 2.1(2) and 2.1(3) of the recovery and resolution directive” substitute “ article 2(1) of the Bank Recovery and Resolution (No. 2) Order 2014 ”.

(5) In subsection (5)—

(a) in the definition of “consolidating supervisor”, for “an EEA parent” substitute “ a UK parent ”;

(b) omit the definition of “the recovery and resolution directive”.

Commencement Information

I1 Reg. 30 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Marginal Citations

M1 Section 71I was inserted by S.I. 2016/1239.