Section 9(3)

In this article “simplified obligations”— in relation to the PRA or FCA, means the less onerous obligations that would result from a determination under article 7(3)(b) or (4); in relation to the Bank, means the less onerous obligations that would result from a determination under article 8(3)(b), (4)(b) or (5).

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