Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024
Table of Contents
Enacting Formula
Part 1 PRELIMINARY
1 Citation and commencement
2 General definitions
3 Definition of affected person
4 Definition of excluded financial institution
5 Definition of pertinent financial institution
6 Definition of relevant provisions
7 Definitions of significant shareholder
8 Definitions of significant shareholder provisions
9 Meaning of "financial contract"
Part 2 COMPULSORY TRANSFER OF BUSINESS OF PERTINENT FINANCIAL INSTITUTION
10 Definition of this Part
11 Setting-off and netting rights
12 Rights and liabilities connected with clearing and settlement arrangement of market infrastructure
13 Rights and liabilities connected with designated system
14 Secured liabilities
15 Protected covered bonds
16 Information under section 67(2) of Act
Part 3 REVERSE TRANSFER OF BUSINESS AND ONWARD TRANSFER OF BUSINESS
17 Definitions of this Part
18 Setting-off and netting rights in relation to reverse transfer and onward transfer
19 Rights and liabilities connected with clearing and settlement arrangement of market infrastructure in relation to reverse transfer and onward transfer
20 Rights and liabilities connected with designated system in relation to reverse transfer or onward transfer
21 Secured liabilities in relation to reverse transfer and onward transfer
22 Information under section 71(2) of Act
23 Restrictions on reverse transfer
24 Information under section 73(2) of Act
Part 4 COMPULSORY TRANSFER OF SHARES OR COMPULSORY RESTRUCTURING OF SHARE CAPITAL OF PERTINENT FINANCIAL INSTITUTION
25 Information under section 76(2) of Act
26 Information under section 79(2) of Act
Part 5 BAIL‑IN POWERS
27 Definition of Division 6 FI
28 Definition of eligible instrument
29 Information under section 84(4) of Act
30 Restrictions on eligible instruments
31 Disclosure requirement
Part 6 TERMINATION RIGHTS
32 Persons excluded from section 93 of Act
33 Contractual recognition of sections 92 and 93 of Act
Part 7 COMPENSATION
34 Definition of Division 11 FI
35 Form, manner and timing for payment of compensation
36 Criteria for appointment and removal of valuer
37 Valuation principles
38 Information to be specified in valuation report
Part 8 EXEMPTION
39 Exemption from moratorium provisions of Act
Part 9 MISCELLANEOUS
40 Revocation
41 Saving and transitional provisions