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Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 [SI 2020 No. 1350]Introductory textPart 1 General (reg. 1)Regulation 1 Citation and commencementPart 2 Amendment of Primary Legislation made under the European Communities Act 1972 (regs. 2-25)Chapter 1 Amendment of the Financial Services and Markets Act 2000 (reg. 2)Regulation 2 Amendment of the Financial Services and Markets Act 2000Chapter 2 Amendment of the Banking Act 2009 (regs. 3-25)Regulation 3 IntroductionRegulation 4 InterpretationRegulation 5 Removal of impediments to the exercise of stabilisation powers etc.Mandatory write-down, conversion etc. (regs. 6-8)Regulation 6Regulation 7Regulation 8Regulation 9 Bail-in: sequence of write-down and conversion of capital instruments and liabilitiesRegulation 10 Special bail-in provisionRegulation 11 General interpretation of section 48BRegulation 12 Pre-conditions for financial assistance: duty of Bank to give informationRegulation 13 Cases where mandatory write-down, conversion etc. applies: banking group companiesRegulation 14 Groups: sale to commercial purchaser and transfer to bridge bank: holding companiesRegulation 15 Groups: transfer to asset management vehicle: holding companiesGroups: bail-in option: holding companies (regs. 16-20)Regulation 16Regulation 17Regulation 18Regulation 19Regulation 20Regulation 21 Resolution of banks not regulated by the PRARegulation 22 Resolution of recognised central counterpartiesRegulation 23 Recognition of third-country resolution actionsRegulation 24 Resolution of UK branches of third-country institutionsRegulation 25 Index of defined termsPart 3 Amendment of Secondary legislation made under the European Communities Act 1972 (regs. 26-60)Regulation 26 Amendment of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999Regulation 27 Amendment of the Credit Institutions (Reorganisation and Winding up) Regulations 2004Regulation 28 Amendment of the Banking Act 2009 (Restriction of Special Bail-in Provisions, etc) Order 2014Amendment of the Bank Recovery and Resolution (No.2) Order 2014 (regs. 29-60)Regulation 29Regulation 30Regulation 31Regulation 32Regulation 33Regulation 34Regulation 35Regulation 36Regulation 37Regulation 38Regulation 39Regulation 40Regulation 41Regulation 42Regulation 43Regulation 44Regulation 45Regulation 46Regulation 47Regulation 48Regulation 49Regulation 50Regulation 51Regulation 52Regulation 53Regulation 54Regulation 55Regulation 56Regulation 57Regulation 58Regulation 59Regulation 60Part 4 Amendment of legislation made under the European Union (Withdrawal) Act 2018 (regs. 61-80)Chapter 1 Amendment of Primary Legislation (regs. 61-72)Amendment of the Banking Act 2009 (regs. 61-72)Regulation 61Regulation 62Regulation 63Regulation 64Regulation 65Regulation 66Regulation 67Regulation 68Regulation 69Regulation 70Regulation 71Regulation 72Chapter 2 Amendment of Secondary Legislation (regs. 73-74)Regulation 73 Amendment of the Credit Institutions (Reorganisation and Winding up) Regulations 2004Regulation 74 Amendment of the Bank Recovery and Resolution (No.2) Order 2014Chapter 3 Amendment of EU Exit Legislation (regs. 75-79)Regulation 75 Amendment of the Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018Regulation 76 Amendment of Schedule 1Regulation 77 Amendment of Schedule 3Regulation 78 Amendment of Schedule 4Regulation 79 Amendment of the Financial Services and Markets Act 2000 (Amendment)(EU Exit) Regulations 2019Chapter 4 Revocation of technical standards under the Recovery and Resolution Directive (reg. 80)Regulation 80 Revocation of technical standards under the Recovery and Resolution DirectivePart 5 Other Provision made under the European Communities Act 1972 (regs. 81-128)Chapter 1 Suspension of obligations, interests and rights (regs. 81-90)Interpretation (regs. 81-82)Regulation 81Regulation 82Regulation 83 Suspension of obligations prior to exercise of stabilisation powersRegulation 84 Suspension of security interests prior to exercise of stabilisation powersRegulation 85 Suspension of termination rights prior to exercise of stabilisation powersRegulation 86 Suspension prior to exercise of stabilisation powers: procedureRegulation 87 Restriction on subsequent suspensionRegulation 88 GroupsRegulation 89 Suspension of obligations when Bank is exercising a stabilisation powerRegulation 90 Modification of Part for banks not regulated by the PRAChapter 2 Power to prohibit distributions (reg. 91)Regulation 91 Power to prohibit distributionsChapter 3 Transfer of losses or capital between members of a group (reg. 92)Regulation 92 Transfer of losses or capital between members of a groupChapter 4 Contractual recognition of bail-in (regs. 93-107)Regulation 93 InterpretationRegulation 94 Requirement to include a contractual term recognising bail-inRegulation 95 Undertakings required to include a contractual termRegulation 96 Contracts for which a contractual term is requiredRegulation 97 Content of required termRegulation 98 Evidence to demonstrate compliance with regulation 94 obligationRegulation 99 ExclusionsRegulation 100 Determination of impracticalityRegulation 101 Suspension of the regulation 94 obligationRegulation 102 Assessment of the determination of impracticabilityRegulation 103 Determination that term is not impracticableRegulation 104 Assessment of resolvabilityRegulation 105 Exercise of power to remove impediments to resolvabilityRegulation 106 Exclusion of liabilities from the minimum requirement for own funds and eligible liabilitiesRegulation 107 Exercise of resolution powers where contractual term not includedChapter 5 Amendments to priority of debts in insolvency (regs. 108-128)Regulation 108 Transitional provisionAmendment of the Insolvency Act 1986 (regs. 109-114)Regulation 109 IntroductionRegulation 110 Non-preferential debts in company voluntary arrangementsRegulation 111 Non-preferential debts in winding up of companiesRegulation 112 Non-preferential debts in bankruptcy proceedingsRegulation 113 InterpretationRegulation 114 AdministrationAmendment of the Insolvency (Northern Ireland) Order 1989 (regs. 115-120)Regulation 115 IntroductionRegulation 116 Non-preferential debts in company voluntary arrangementsRegulation 117 Non-preferential debts in winding up of companiesRegulation 118 Non-preferential debts in bankruptcy proceedingsRegulation 119 InterpretationRegulation 120 AdministrationFurther Amendment of Insolvency Legislation (regs. 121-128)Regulation 121 Amendments of the Insolvent Partnerships Order 1994Regulation 122 Amendments of the Insolvent Partnerships Order (Northern Ireland) 1995Regulation 123 Housing Act 1996Regulation 124 Housing and Regeneration Act 2008Regulation 125 Housing (Scotland) Act 2010Bankruptcy (Scotland) Act 2016Regulation 126Regulation 127Regulation 128SignatureExplanatory NoteExplanatory MemorandumDe minimis assessmentTransposition table
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Chapter 2 Power to prohibit distributions (reg. 91)

Regulation 91 Power to prohibit distributions
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