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

References to EBA

119.—(1) Where, before the end of the period referred to in article 117(3)(a) (“the consultation period”), the consolidating supervisor has referred to EBA in accordance with Article 19 of the EBA Regulation any matter relating to a proposal by the appropriate regulator to take a referable measure in respect of a UK group entity, the appropriate regulator must—

(a) defer its decision on the proposal for three days beginning with the date on which the consultation period ends; and

(b) ensure that the decision conforms with any decision taken by EBA under Article 19.3 of the EBA Regulation within three days beginning with the date on which the consultation period ends.

(2) Paragraphs (3) and (4) apply where no joint decision has been reached under article 118(1) within the period referred to in article 118(2) (“the 5 day period”).

(3) Where, before the end of the 5 day period, another competent authority has referred to EBA in accordance with Article 19 of the EBA Regulation any matter relating to a proposal by the appropriate regulator to take a referable measure in respect of a UK group entity, the appropriate regulator must—

(a) defer its decision on the proposal for three days beginning with the date on which the 5 day period ends; and

(b) ensure that the decision conforms with any decision taken by EBA under Article 19.3 of the EBA Regulation within three days beginning with the date on which the 5 day period ends.

(4) The appropriate regulator may, within the 5 day period, refer to EBA in accordance with Article 19 of the EBA Regulation any matter relating to a proposal by another competent authority to take a referable measure in respect of a group entity.

(5) For the purposes of a reference to EBA of a matter to which paragraph (3) or (4) refers the 5 day period is deemed to be the conciliation phase referred to in Article 19.2 of the EBA Regulation.

(6) In this article “referable measure” has the same meaning as in article 114(7).