The Bank Recovery and Resolution (No. 2) Order 2014 No. 3348

PART 13 Preparation of business reorganisation plans after application of bail-in tool

CHAPTER 4 Assessment of business reorganisation plan drawn up for relevant group where neither the PRA nor the FCA is the consolidating supervisor

Application and interpretation of Chapter 4

175.—(1) This Chapter applies where, in relation to a relevant group—

(a) neither the PRA nor the FCA is the consolidating supervisor;

(b) a relevant bail-in power has been exercised in respect of two or more group entities; and

(c) the Bank receives a copy of a business reorganisation plan submitted to the group-level resolution authority(1) for assessment in accordance with Article 52 of the recovery and resolution directive.

(2) In this Chapter—

“business reorganisation plan”, “relevant bail-in power”, “relevant matters” and “UK group entity” have the same meaning for the relevant group as they have for a relevant group in Chapter 3; and

“four month period” means four months beginning with the date on which the Bank receives a copy of the business reorganisation plan.

(1)

For the meaning of “group-level resolution authority” see the recovery and resolution directive, Article 2.1, point (44).