CHAPTER VIU.K. RESOLUTION COLLEGES

SECTION IV U.K. Cross-border group resolution

Subsection 1 U.K. Decision on the need for a group resolution scheme under Articles 91 and 92 of Directive 2014/59/EU

Article 98U.K.Dialogue on the need for a group resolution scheme

1.After receiving the notification referred to in point (a) or (h) of Article 81(3) of Directive 2014/59/EU, the group-level resolution authority shall endeavour to organise a dialogue in accordance with paragraphs 2 and 3 of this Article involving at least those members of the college who are the resolution authorities of the subsidiaries.

2.For the purposes of paragraph 1, the group-level resolution authority shall transmit the following information to the members:

(a)the notification received;

(b)its proposal on the topics referred to in paragraph 3;

(c)the time limit by which the dialogue should be concluded.

3.The dialogue shall concern the following:

(a)whether, in accordance with Article 91 or 92 of Directive 2014/59/EU, the resolution of the subsidiary, or of the Union parent undertaking respectively, would have group dimensions and would require the drawing up of a group resolution scheme;

(b)whether the financing plan shall be based on mutualisation of national financing arrangements in accordance with Article 107 of Directive 2014/59/EU.