The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 No. 1394

Regulation 3

SCHEDULE 2 U.K. Amendments of other primary legislation

Amendments of the Insolvency Act 1986 U.K.

1.  Schedule 6 to the Insolvency Act 1986 (preferential debts) is amended in accordance with paragraphs 2 and 3.

Commencement Information

I1 Sch. 2 para. 1 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

2.  In paragraph 15BB M1 — U.K.

(a) in sub-paragraph (a)—

(i) for “non-EEA” substitute “ non-UK ”; and

(ii) for “an EEA state” substitute “ the United Kingdom ”;

(b) in sub-paragraph (b), for “an EEA” substitute “ a UK ”.

Commencement Information

I2 Sch. 2 para. 2 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

Marginal Citations

M1 Inserted by S.I. 2014/3486.

3.  In paragraph 15C M2 — U.K.

(a) in sub-paragraph (3) for paragraph (b) substitute—

“(b) any micro, small and medium-sized enterprise, as defined with regard to the annual turnover criterion referred to in Article 2(1) of the Annex to Commission recommendation 2003/361/EC.”.

(b) in sub-paragraph (4)—

(i) for paragraphs (b) and (c) substitute—

“(b) “non-UK branch” means a branch, as defined in Article 4.1(17) of the capital requirements regulation, which is established outside the United Kingdom;

(c) “UK branch” means a branch, as so defined, which is established in the United Kingdom,”;

(ii) at the end, insert “ , as it [F1 forms part of retained EU law]”.

Textual Amendments

F1 Words in Sch. 2 para. 3(b)(ii) substituted (31.12.2020 immediately before IP completiton day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), reg. 1(4), Sch. para. 1(1)(2)(k)(ii)

Commencement Information

I3 Sch. 2 para. 3(b)(ii) in force at 21.12.2018 and Sch. 2 para. 3 in force otherwise at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)(3)(c)

Marginal Citations

M2 Inserted by the Financial Services (Banking Reform) Act 2013 and amended by S.I. 2014/3486 and 2015/486.

Amendments of the Financial Services (Banking Reform) Act 2013 U.K.

4.  Paragraph 5 of Schedule 7 to the Financial Services (Banking Reform) Act 2013 (provision that may be made by a financial market infrastructure transfer scheme) is amended as follows—

(a) at the end of sub-paragraph (2)(e), insert the words “ (including under legislation of the European Union) ”; and

(b) in sub-paragraph (2)(f), omit “, EU instrument”.

Commencement Information

I4 Sch. 2 para. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)