Section 97A

The duty of the Bank of England to make a decision under section 89H(2) of the Banking Act 2009 (recognition of third-country resolution actions) does not apply in relation to the notification of third-country resolution action in respect of— a designated person, or a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by a designated person. In paragraph (1)— “designated person” has the same meaning as it has in Chapter 1 of Part 3 (asset-freeze etc.); “third-country resolution action” has the meaning given in section 89H(7) of the Banking Act 2009.

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Source: legislation.gov.uk · retrieved 2026-08-30