The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

Section 137J (rules about recovery plans: duty to consult)U.K.

35.  In section 137J M1 (rules about recovery plans: duty to consult), in subsection (6) M2—

(a)for the definition of “institution” substitute—

““institution” means—

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

(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 ”.