PART 2Amendments to the Act

CHAPTER 6Part 9A of the Act: rules and guidance

Section 137J (rules about recovery plans: duty to consult)35

In section 137J50 (rules about recovery plans: duty to consult), in subsection (6)51—

a

for the definition of “institution” substitute—

  • “institution” means—

    1. a

      a credit institution, other than an entity mentioned in Article 2.5 of the capital requirements directive; or

    2. b

      an investment firm as defined in Article 4.1(2) of the capital requirements regulation that is subject to the initial capital requirement specified in rules made by a regulator for the purpose of implementing Article 28(2) of the capital requirements directive;

b

in the definition of “institution authorised in the UK”, for “an institution which is an authorised person and” substitute “an authorised person who is”.