http://www.legislation.gov.uk/uksi/2014/3329/article/45/made

The Bank Recovery and Resolution Order 2014

en

King's Printer of Acts of Parliament

2016-07-25

BANKS AND BANKING

FINANCIAL SERVICES AND MARKETS

This Order implements in part Directive 2014/59/EU of the European Parliament and of the Council of 15th May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms (“RRD”) (OJ L173, 12.6.2014, p.190). The RRD requires EEA states to have powers to manage the failure of credit institutions and investment firms and their group companies (“banks”) as an alternative to insolvency, in order to ensure that critical functions continue to be performed.