Regulation 5

The Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009

1.

(1) The Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009 are amended as follows.

(2) After regulation 7 insert -

“7A. Valuation methodology: technical standards

The Bank may make technical standards specifying the methodology for the assessments referred to in regulation 5(2) to (4).” 

The Banking Act 2009 (Restriction of Partial Property Transfers) Order 2009

2.

(1) The Banking Act 2009 (Restriction of Partial Property Transfers) Order 2009 is amended as follows.

(2) In article 1 (interpretation etc.) -

(a) in paragraph (3) -

(i) after the definition of “the Act” insert -

““Annex 1 activity” has the meaning given in point (26A) of Article 4.1 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms;”;

(ii) omit the definition of “capital requirements directive”;