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

PART 10 U.K. Requirement to write down or convert capital instruments

Determination that Case 2, 3, 4 or 5 is satisfied U.K.

152.—(1) This article applies where, in the Bank's assessment, there is no reasonable prospect that any alternative measure which is available and could feasibly be taken would, within a reasonable time, avoid the need for the determination referred to in a Case 2, 4 or 5 notice or a Case 3 notice.

(2) F1 ... The Bank must decide whether to make the determination referred to in the notice.

F2 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Words in art. 152(2) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 85(2); 2020 c. 1, Sch. 5 para. 1(1)

F2 Art. 152(3)(4) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 85(3); 2020 c. 1, Sch. 5 para. 1(1)