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The Bank Recovery and Resolution (No. 2) Order 2014

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Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).

Assessment of impact of notified measures

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200.—(1) The Bank must make a relevant assessment of the notified measures in consultation with the other members of the college.

(2) Where the Bank has given a relevant notice and the relevant assessment is that the notified measures would not make it likely that another group entity would meet the conditions for resolution, the Bank may take the notified measures.

(3) Where the result of the relevant assessment is that the notified measures would make it likely that another group entity would meet the conditions for resolution, the Bank must make a proposal for a group resolution scheme.

(4) In paragraphs (2) and (3) the reference to another group entity is a reference to a group entity set up in an EEA State other than the State in which the failing subsidiary is set up.

(5) The Bank must make a proposal under paragraph (3) within—

(a)24 hours beginning with the time at which it gives or receives the relevant notice; or

(b)where the Bank has not given the relevant notice, such longer period as the resolution authority for the failing subsidiary may allow for making the relevant assessment.

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