Regulation 3

1. The modifications to the Credit Institutions (Reorganisation and Winding Up) Regulations 2004 are as follows.

2. Regulation 2 [Regulation 2 was amended by S.I. 2007/108; 2013/3115; 2014/3348. There are other amendments to regulation 2 which are not relevant to this instrument.] applies as if -

(a) in paragraph (1) -

(i) in the definition of “branch”, for “an EEA or UK” there were substituted “a UK or Gibraltar”;

(ii) in the definition of “capital requirements directive”, at the end, there were inserted “as it had effect immediately before IP completion day”;

(iii) in the definition of “capital requirements regulation”, at the end, there were inserted “as it forms part of domestic law under section 3 of the European Union (Withdrawal) Act 2018”;

(iv) in the definition of “directive reorganisation measure”, at the end, there were inserted “but does not include any “third-country resolution action” within the meaning of section 89H of the Banking Act 2009 [2009 c. 1. Section 89H was inserted by S.I. 2014/3329.]”;

(v) in the definition of “directive winding-up proceedings”, the reference in the definition in Article 2 of the reorganisation and winding-up directive to “a Member State” were a reference to “Gibraltar”;