PART 16Cross-border group resolution
CHAPTER 2Resolution colleges
Use of an existing resolution college194
1
The Bank is not under a duty to establish a resolution college for a relevant group (“the group”) if—
a
it is satisfied that an existing grouping or college of resolution authorities and other persons, including a resolution college established for a different relevant group—
i
could facilitate the performance in relation to the group of the functions and tasks set out in article 191 (“the additional purpose”); and
ii
would, if used for the additional purpose, observe in all material respects the same requirements relating to membership, participation, functioning and information exchange as a resolution college established for the group by the Bank; and
b
it decides that the existing grouping or college is to be used for the additional purpose.
2
Where paragraph (1) applies—
a
this Chapter, except article 191(1), applies in relation to the existing grouping or college, where it is used for the additional purpose, but has effect for that purpose as if each reference to the resolution college were a reference to the existing grouping or college; and
b
this Order, except this Chapter, has effect in relation to the group as if each reference to the college included a reference to the existing grouping or college.