Schedule 3, Part 3, paragraph 9(4)

After regulation 18 insert— Nothing in regulations 16 and 17 prevents the Bank of England imposing a restriction— in the exercise of its powers under Part 1 of the Banking Act 2009. on the enforcement of financial collateral arrangements, or on the effect of a security financial collateral arrangement, close out netting provision or set-off arrangement, For the purpose of paragraph (1) “set-off arrangement” has the meaning given in Article 2.1(99) of the recovery and resolution directive.

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