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

PART 2 Amendments to the Act

CHAPTER 9 Part 12A of the Act: powers exercisable in relation to parent undertakings

Section 192JB (rules requiring parent undertakings to facilitate resolution)

59.  In section 192JB(1) (rules requiring parent undertakings to facilitate resolution), in subsection (4), for paragraph (b) substitute—

“(b) “group financial support agreement” means an agreement for the provision of financial support, by a member of the group of the parent undertaking, to an institution in the group which, at any time after the agreement is concluded, comes to need financial support;”.

(1)

Section 192JB was inserted by section 133(1) of the Financial Services (Banking Reform) Act 2013 (c. 33) and was amended by S.I. 2014/3329.