Glossary

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Term Definition Legal instruments

termination right

01/06/2016

THIS DEFINITION ONLY APPLIES TO THE STAY IN RESOLUTION PART

means the following rights and provisions:

(a) a ‘termination right’ as defined in section 70C(10) of the Banking Act 2009; and

(b) a ‘default event provision’ as defined in Section 48Z(1) of the Banking Act 2009 that would apply as a consequence of:

(i) a crisis prevention measure, crisis management measure or recognised third-country resolution action or

(ii) the occurrence of any event directly linked to the application of such a measure or action.

Instruments