[89JA Resolution of UK branches of third-country institutions]
Banking Act 2009 (2009 c 1) | Legislation

[Chapter 6A
Resolution of UK Branches of Third-Country Institutions]

[89JA  Resolution of UK branches of third-country institutions]

[(1)     The provisions of Chapters 1, 3 and 4 of this Part apply in relation to UK branches subject to the modifications specified in subsections (4) to (10) and in the Table in subsection (11).

(2)     In this Chapter—

(a)     “UK branch” means a branch located in the United Kingdom of a third-country institution authorised for the purpose of the Financial Services and Markets Act 2000 by the PRA or the FCA,

(b)     references to the business of a UK branch are to—

(i)     any rights and liabilities of the third-country institution arising as a result of the operations of the UK branch, and

(ii)     any other property in the United Kingdom of the third-country institution,

(c)     “third-country institution” has the [same meaning as in section 89H], and a third-country institution is “FCA-regulated” if it does not carry on any activity which is a PRA-regulated activity for the purposes of the Financial Services and Markets Act 2000,

(d)     references to a third-country institution are to the third-country institution in respect of whose UK branch the Bank of England—

(i)     is considering making a property

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