Section 81AA(7)

This subsection applies in relation to the banking group company if the relevant third-country authority has determined that any conditions required by the law of the third country to be met before— are met in relation to a third-country institution to which section 81D(1)(a) applies. any power for the relevant third country authority to write down or convert capital instruments or relevant internal liabilities provided for under the law of that third country may be exercised, or third-country resolution action may be taken,

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Source: legislation.gov.uk · retrieved 2026-09-04