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

PART 7 U.K. Intra-group financial support

CHAPTER 2 U.K. Authorisation of agreement for group financial support where neither the PRA nor the FCA is the consolidating supervisor

Application and interpretation of Chapter 2 U.K.

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

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

(b) the consolidating supervisor receives an application for authorisation of a group financial support agreement (“the application”) from the EEA parent undertaking.

(2) In this Chapter—

“conditions for financial support” and “conditions for early intervention” have the same meaning as in Chapter 1; and

“financial support”, “group entity”, “group financial support agreement”, “group institution” and “relevant competent authority” have the same meaning for the relevant group as they have for a relevant group in Chapter 1.