Section 81C(1AA)

The results are that— (or both (a) and (b)) in accordance with the principle that losses of the bank referred to in relation to that banking group company in section 81AA(8A)(a) are effectively passed on to, and the bank is recapitalised by, the resolution entity that is in the same resolution group as the banking group company. the principal amount of the relevant capital instruments or relevant internal liabilities of the banking group company is reduced, or such instruments or liabilities of the banking group company are converted (directly or indirectly) into Common Equity Tier 1 instruments,

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