(1) This paragraph modifies the application of the Investment Bank Special Administration Regulations 2011 (S.I. 2011/245) ("the regulations") in cases where a resolution instrument has been made under section 12A of the Banking Act 2009 with respect to the investment bank in the relevant 3-month period.
(2) In sub-paragraph (1) "the relevant 3-month period" means the 3 months ending with the date on which the FCA receives the notification under Condition 1 in regulation 8 of the regulations.
(3) In their application to those cases, the regulations have effect with the modifications in sub-paragraph (4); and any enactment that refers to the regulations is to be read accordingly.
(4) In regulation 8 (in its application to those cases) -
(a) in paragraph (5)(c)(ii), for "appropriate regulator" substitute "Bank of England" and after "notice" insert "and the appropriate regulator";
(b) in paragraph (6), omit sub-paragraph (a) (but continue to read "that" in sub-paragraph (b)
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