2. A group resolution plan must—
(a)set out the resolution [F1tools that would be applied, the resolution powers that would be exercised] or insolvency proceedings that would be taken in respect of [F2each resolution entity in the relevant group];
[F3(b)set out the implications of sub-paragraph (a) for—
(i)the other group entities in the same resolution group as the resolution entity; and
(ii)any other resolution group in the relevant group;]
(c)include a consideration of measures for facilitating the purchase by a third party of the relevant group as a whole or of separate business lines or activities delivered by any group entity [F4or any resolution group];
(d)identify and assess potential impediments in relation to the relevant group as a whole to—
(i)the co-ordination of [F5the application of resolution tools or the exercise of resolution powers];
(ii)the effectiveness of [F5the application of resolution tools or the exercise of resolution powers] or the achievement of the resolution objectives;
(e)where any subsidiary within the relevant group is set up in a third country, set out—
(i)arrangements for co-ordinating [F6the application of resolution tools or the exercise of resolution powers], and co-operating, with the authorities which, in the country concerned, exercise any function equivalent to a function of [F7the Bank under Part 1 of the Banking Act 2009 or a] competent authority; and
(ii)the implications of such co-ordination for the resolution M1 of that subsidiary and group entities;
(f)set out measures which the Bank considers it would be necessary to take to facilitate group resolution M2, including by the legal or economic separation of specified functions or business lines of [F8resolution entities];
(g)set out any other measures which the Bank would take or considers it would be necessary to take to facilitate group resolution in respect of [F9each resolution group in] the relevant group;
(h)a detailed description of the assessment of resolvability made in respect of the relevant group in accordance with Chapter 2 of Part 6; [F10and]
(i)explain how the [F11application of resolution tools or the exercise of resolution powers] set out in the plan could be financed (without the assumption that any group entity would be in receipt of the support or assistance referred to in paragraph 1(3))F12...
F13(j). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in Sch. 2 para. 2(a) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 118(3)(a); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in Sch. 2 para. 2(a) substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 59(a)
F3Sch. 2 para. 2(b) substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 59(b)
F4Words in Sch. 2 para. 2(c) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 59(c)
F5Words in Sch. 2 para. 2(d)(i)(ii) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 118(3)(b); 2020 c. 1, Sch. 5 para. 1(1)
F6Words in Sch. 2 para. 2(e)(i) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 118(3)(c)(i); 2020 c. 1, Sch. 5 para. 1(1)
F7Words in Sch. 2 para. 2(e)(i) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 118(3)(c)(ii); 2020 c. 1, Sch. 5 para. 1(1)
F8Words in Sch. 2 para. 2(f) substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 59(d)
F9Words in Sch. 2 para. 2(g) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 59(e)
F10Word in Sch. 2 para. 2(h) added (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 118(3)(d); 2020 c. 1, Sch. 5 para. 1(1)
F11Words in Sch. 2 para. 2(i) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 118(3)(e)(i); 2020 c. 1, Sch. 5 para. 1(1)
F12Word in Sch. 2 para. 2(i) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 118(3)(e)(ii); 2020 c. 1, Sch. 5 para. 1(1)
F13Sch. 2 para. 2(j) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 118(3)(f); 2020 c. 1, Sch. 5 para. 1(1)
Marginal Citations
M1For the meaning of “resolution” see the recovery and resolution directive, Article 2.1, point (1).
M2For the meaning of “group resolution” see the recovery and resolution directive, Article 2.1, point (42).