alternative measure — — a measure for early intervention within the meaning given in Chapter 1 of Part 8; a power of the FCA or PRA by or under legislation upon which the United Kingdom relied immediately before IP completion day to meet its obligations with respect to Article 104.1 of the capital requirements directive (supervisory powers); or a transfer of funds or capital from a parent undertaking; ... “Case 2”— in relation to a bank, means Case 2 set out in subsection (3) of section 6A of the Banking Act 2009 (cases where mandatory write-down, conversion, etc applies); in relation to a banking group company, means Case 2 set out in subsection (4) of section 81AA of that Act (cases where mandatory write-down, conversion, etc applies: banking group companies); “Case 3”, in relation to a bank, means Case 3 set out in section 6A(4) of that Act; “Case 4”, in relation to a bank, means Case 4 set out in section 6A(5) of that Act; “Case 5”— in relation to a bank, means Case 5 set out in section 6A(6) of that Act; in relation to a banking group company, means Case 3 set out in section 81AA(8) of that Act; .. Section 149(2)

An auditor of an authorised person — borrowed from another act; this instrument states no meaning of its own Schedule 3, Part 3, paragraph 8(7)

applying the public equity support tool — participating in the recapitalisation of an institution or an entity by providing capital to the institution or entity in exchange for Common Equity Tier 1 instruments, Additional Tier 1 instruments or Tier 2 instruments; “Common Equity Tier 1 instruments”, “Additional Tier 1 instruments” and “Tier 2 instruments” have the meanings given in section 3(1) of the Banking Act 2009 Section 216(1)

assessment of group resolvability — an assessment of the extent to which it would be feasible and credible to apply the resolution tools or exercise resolution powers in respect of resolution entities, or take insolvency proceedings in respect of group entities while avoiding to the maximum extent possible any significant adverse effect on the financial system of the United Kingdom or the continuity of the critical functions of group entities Section 61(2)

assessment of resolvability — an assessment of the extent to which it would be feasible and credible to apply the resolution tools, exercise resolution powers or take insolvency proceedings in respect of the institution while avoiding to the maximum extent possible any significant adverse effect on the financial system of the United Kingdom or the continuity of the institution's critical functions Section 59(2)

authorised agreement — a group financial support agreement (within the meaning given in Chapter 1) authorised by the PRA or FCA, and includes any amendment authorised by the PRA or FCA; “director” includes— a director of a company; a member of a limited liability partnership; and a director of a building society established under the Building Societies Act 1986 ; “member” includes— a shareholder of a company; a member of a limited liability partnership; and a shareholding or borrowing member of a building society established under the Building Societies Act 1986 (“shareholding member” and “borrowing member” have the meaning given in paragraph 5(2) of Schedule 2 to that Act); “ordinary resolution”— in relation to a resolution passed at a meeting on a show of hands, means a resolution passed by a simple majority of the votes cast by those entitled to vote; in relation to a resolution passed on a poll taken at a meeting, means a resolution passed by members representing a simple majority of the total voting rights of the members who (being entitled to do so) vote on the resolution; in relation to a written resolution, means a resolution passed by members representing a simple majority of the total voting… Section 97(1)

authorised person — borrowed from another act; this instrument states no meaning of its own Schedule 3, Part 1, paragraph 2(4)

back-to-back transaction — a transaction entered into between two group entities for the purpose of transferring, in whole or in part, the risk generated by another transaction entered into between one of those group entities and a third party Schedule 2B, paragraph 1

business changes — changes to the business of a group institution which would be made with the object of addressing an impediment Section 16(2)

competent authority — the supervisor of an authorised person under FSMA Section 2(1)

conditions for early intervention — where— an institution infringes the requirements of— the capital requirements regulation or CRR rules; legislation upon which the United Kingdom relied immediately before IP completion day to meet its obligations with respect to the capital requirements directive; legislation upon which the United Kingdom so relied to meet its obligations with respect to Title II of Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments; or any of Articles 3 to 7, 14 to 17 and 24 to 26 of Regulation (EU) No. 600/2014 of 15th May 2014 of the European Parliament and of the Council on Markets in Financial Instruments , or rules made under them; or an institution is likely in the near future to infringe those requirements due, amongst other things, to— a rapidly deteriorating financial condition, including deteriorating liquidity situation; increasing level of leverage; non-performing loans; or concentrations of exposures, as assessed on the basis of a set of triggers, which may include the institution's own funds requirement plus 1.5 percentage points; “conditions for resolution”— in relation to an institution authorised by the PRA or FCA, means the… Section 2(1)

conditions for financial support — the following conditions— there is a reasonable prospect that the financial support provided significantly redresses the financial difficulties of the group entity receiving the financial support; the provision of financial support has the objective of preserving or restoring the financial stability of the group as a whole or any of the entities of the group and is in the interests of the group entity providing the financial support; the financial support is provided on terms, including consideration, in accordance with Article 19.7 of the recovery and resolution directive; there is a reasonable prospect, on the basis of the information available to the management body of the group entity providing financial support at the time when the decision to grant financial support is taken, that the consideration for the support will be paid and, if the financial support is given in the form of a loan, that the loan will be reimbursed, by the group entity receiving the financial support; if the financial support is given in the form of a guarantee or any form of security and the guarantee or the security is enforced, the condition referred to in paragraph (d) shall apply to the liability… Section 83(2)

contractual bail-in instrument — an instrument which — contains a contract term that where the Bank decides to apply the stabilisation option referred to in paragraph (c) of section 1(3) of the Banking Act 2009 (the bail-in option) in respect of the institution, undertaking or relevant group concerned, the instrument is to be written down or converted to the extent required before other eligible liabilities are written down or converted; and is subject to a binding subordination agreement, undertaking or provision under which, in the event that normal insolvency proceedings are commenced, the instrument ranks below other eligible liabilities and cannot be repaid until other eligible liabilities outstanding on the date of commencement of the insolvency proceedings have been repaid Section 148(3)

core business lines — business lines and associated services which represent material sources of revenue, profit or franchise value for an institution or for a group of which an institution forms part; “credit institution” has the meaning given in section 48D(1) of the Banking Act 2009; “critical functions”— ... has the meaning given in section 3 of the Banking Act 2009 (interpretation: other expressions); ... ...; “CRR rules” has the meaning given in section 144A of FSMA; “deposit” has the meaning given in Article 2(1)(23A) of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15th May 2014 on markets in financial instruments and amending Regulation (EU) No. 648/2012 Section 2(1)

covered bond — a regulated covered bond within the meaning of regulation 1(2) of the Regulated Covered Bonds Regulations 2008; and Section 121(1)

depositor — the holder or, in the case of a joint account, each of the holders, of a deposit; “derivative contract” has the meaning given by point (5) of Article 2 of Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories ; ... ... ... ... ... ... “eligible liabilities”— ... has the meaning given in section 3(1) of the Banking Act 2009; ... ... “extraordinary public financial support” has the meaning given in section 3(1) of the Banking Act 2009 Section 2(1)

derivative contract — borrowed from another act; this instrument states no meaning of its own Section 2(1)

determination — a determination of a kind referred to in paragraph (1) Section 64(2)

directive reorganisation measure — a reorganisation measure as defined in Article 2 of the reorganisation and winding up directive which was adopted or imposed on or after the 5th May 2004, or any other measure to be given effect in or under the law of the United Kingdom pursuant to Article 66 of the recovery and resolution directive; for the definition of “the reorganisation and winding up directive” substitute— Schedule 3, Part 3, paragraph 10(2)

EEA group company — — the head office of which is in an EEA State other than the United Kingdom and which is not otherwise subject to these Regulations; and a financial institution as defined in point (26) of Article 4(1) of the capital requirements regulation, a parent undertaking as defined in point (15)(a) of Article 4(1) of the capital requirements regulation, or any other firm within the scope of Article 1(1) of the recovery and resolution directive Schedule 3, Part 3, paragraph 10(13)

EEA group company — — the head office of which is in an EEA State other than the United Kingdom and which is not otherwise subject to these Regulations; and a financial institution as defined in point (26) of Article 4(1) of the capital requirements regulation, a parent undertaking as defined in point (15)(a) of Article 4(1) of the capital requirements regulation, or any other firm within the scope of Article 1(1) of the recovery and resolution directive Schedule 3, Part 3, Part 7, paragraph 44

EEA investment firm — an investment firm as defined in point (2) of Article 4(1) of the capital requirements regulation whose head office is in an EEA State other than the United Kingdom Schedule 3, Part 3, paragraph 10(13)

EEA investment firm — an investment firm as defined in point (2) of Article 4(1) of the capital requirements regulation whose head office is in an EEA State other than the United Kingdom Schedule 3, Part 3, Part 6, paragraph 39

EEA regulator — — a competent authority (within the meaning given by point (40) of Article 4(1) of the capital requirements regulation) established in an EEA State; or the resolution authority (within the meaning given by point (18) of Article 2(1) of the recovery and resolution directive) established in an EEA State; for the definition of “directive reorganisation measure” substitute— Schedule 3, Part 3, paragraph 10(2)

EEA resolution authority — an authority designated by another EEA state in accordance with Article 3 of the recovery and resolution directive Schedule 3, Part 3, paragraph 8(2)

enforcement event — an event of default, or (subject to sub-paragraph (b)) any similar event as agreed between the parties, on the occurrence of which, under the terms of a financial collateral agreement or by operation of law, the collateral taker is entitled to realise or appropriate financial collateral or a close-out netting provision comes into effect; a crisis management measure or crisis prevention measure taken in relation to an entity under the recovery and resolution directive shall not be considered to be an enforcement event pursuant to an agreement between the parties if the substantive obligations provided for in that agreement (including payment and delivery obligations and provision of collateral) continue to be performed; and for the purposes of sub-paragraph (b) “crisis prevention measure” and “crisis management measure” have the meaning given in section 48Z of the Banking Act 2009 Schedule 3, Part 3, paragraph 9(2)

entity — in relation to the drawing up of— a resolution plan for an institution, the institution; a group resolution plan for a relevant group, the group entities Schedule 2A, paragraph 1

entity — in relation to an assessment of resolvability of— an institution in accordance with article 60(2)(a), the institution; a relevant group in accordance with article 62(3)(a), the group entities Schedule 2B, paragraph 1

entity — in relation to the drawing up of — a recovery plan for an institution, the institution; a group recovery plan for a relevant group, the group entities; except where provision is made to the contrary Schedule A1, paragraph 1

Financial contracts — — securities contracts, including— contracts for the purchase, sale or loan of a security, a group or index of securities; options on a security or group or index of securities; repurchase or reverse repurchase transactions on any such security, group or index; commodities contracts, including— contracts for the purchase, sale or loan of a commodity or group or index of commodities for future delivery; options on a commodity or group or index of commodities; repurchase or reverse repurchase transactions on any such commodity, group or index; futures and forwards contracts, including contracts (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date; swap agreements, including— swaps and options relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation; total return, credit spread or credit swaps; any agreements or transactions that are similar to an agreement referred to in paragraph (i) or (ii) which is the… Section 58(2A)

Financial Policy Committee — the Financial Policy Committee of the Bank established by section 9B of the Bank of England Act 1998 Section 2(1)

foreign resolution authority — an authority in a territory which is not, and does not form part of, an EEA state which exercises functions in relation to third-country resolution action (within the meaning of section 89H of the Banking Act 2009), including planning for such action, corresponding to one or more functions exercisable by an EU resolution authority pursuant to the recovery and resolution directive Schedule 3, Part 3, paragraph 8(2)

four month period — four months beginning with the date on which the Bank receives the business reorganisation plan under paragraph (1)(c) Section 165(2)

four month period — four months beginning with the date on which the appropriate regulator transmits a copy of the group recovery plan under article 17 Section 16(2)

FSMA — the Financial Services and Markets Act 2000 Section 2(1)

group — a parent undertaking and its subsidiaries; “group entity”, in relation to a relevant group, means the UK parent undertaking or a group subsidiary Section 2(1)

group entity — a relevant parent undertaking or group subsidiary which has entered into a group financial support agreement authorised by the PRA or FCA (“the agreement”) Section 101(1)

group entity — the UK parent undertaking or a subsidiary within the relevant group which is— an institution a financial institution; or a parent undertaking of an institution which is ...— ... a qualifying parent undertaking Section 68(2)

group entity — a relevant parent undertaking or group subsidiary which proposes to enter into the group financial support agreement Section 83(2)

group financial support agreement — an agreement— which is proposed for the provision of financial support to a group institution which, at any time after the agreement has been concluded, meets the conditions for early intervention; and the parties to which include a relevant parent undertaking and one or more group subsidiaries set up in any country , other than the United Kingdom, in which the relevant parent undertaking is set up Section 83(2)

group institution — — the UK parent undertaking, if it is a relevant institution; a group subsidiary which is a relevant institution; a group entity, other than an institution, which is— required under article 139 ... to maintain a minimum requirement for own funds and eligible liabilities; ... ... where the group resolution plan does not provide for the separate resolution of a subsidiary set up in a third country, that subsidiary if it would be a relevant institution if it were set up in the UK Section 125(2)

group institution — an institution, other than a mortgage credit institution within the meaning given in Chapter 1, that— is authorised by the PRA or FCA and forms part of a relevant group Section 133(2)

group institution — — the UK parent undertaking, if it is an institution; a group subsidiary which is an institution; “impediment”, in relation to the business reorganisation plan, means any material deficiency or measure in the plan which would impede its implementation or the object of restoring the long-term viability of any group entity (or of part of its business) or of the whole or part of the relevant group; “relevant bail-in power” in relation to a group entity means the power in section 12A(2) of the Banking Act 2009; “the regulator”— where there is a PRA-authorised person and any other UK authorised person in the relevant group, means the PRA and the FCA; where there is a PRA-authorised person and no other UK authorised person in the relevant group, means the PRA; where there is no PRA-authorised person in the relevant group, means the FCA; “relevant matters”, in relation to the assessment of the business reorganisation plan, means the following matters for decision— whether the plan meets the criteria for assessment; whether group entities should be required to draw up and submit business reorganisation plans on an individual basis; whether the plan contains an impediment; whether a group… Section 165(2)

group institution — — the UK parent undertaking, if it is an institution; a group subsidiary which is an institution; “impediment”, in relation to the group recovery plan, means any material deficiency or measure in the plan which would impede its implementation; “relevant matters”, in relation to the assessment of the group recovery plan, means the following matters for decision— whether the plan meets the criteria for assessment; whether group institutions should be required to draw up and submit recovery plans on an individual basis; whether the plan contains an impediment; whether a group entity should be required to revise the plan; whether an impediment has been adequately addressed in a revision of the plan; where an impediment has not been adequately addressed in a revision of the plan, whether it can be adequately addressed by directing a group entity to make specific changes to the plan; and where an impediment cannot be adequately addressed by specific changes to the plan or by business changes— whether a group entity should be directed to take relevant measures; and the terms of any direction to take relevant measures Section 16(2)

group institution — a group entity which is an institution Section 83(2)

group recovery plan — a document which provides for measures to be taken in relation to a relevant group to achieve the stabilisation of the group as a whole, or of any institution within the group, where the group or the institution is in a situation of financial stress, in order to address or remove the causes of the financial stress and restore the financial position of the group or institution; “group resolution plan”, in relation to a relevant group, means a document which identifies at least one resolution entity and at least one resolution group and which makes provision for— applying the resolution tools or exercising resolution powers in respect of each resolution entity in the relevant group; co-ordinating the application of resolution tools and the exercise of resolution powers by resolution authorities in respect of group entities that meet the conditions for resolution; “group subsidiary”, in relation to a relevant group, means a subsidiary within that group which is an institution, a financial institution, a financial holding company or a mixed financial holding company; “insolvency proceedings” includes— proceedings under the Insolvency Act 1986 ; and the procedure in Part 2 of the… Section 2(1)

group resolution — — the taking of resolution action at the level of— which forms part of a group that is subject to consolidated supervision in accordance with the capital requirements regulation and CRR rules; or a parent undertaking; or an institution, the co-ordination of the application of resolution tools and the exercise of resolution powers by the Bank in relation to resolution entities that meet the conditions for resolution Schedule 2, paragraph 4

group resolution plan — a plan adopted by the Bank under Chapter 2; and “up-dated plan”, in relation to a group resolution plan, means that plan as reviewed in accordance with this article (whether or not it has been amended on review) Section 54(6)

group subsidiary — an undertaking which is— a subsidiary of a relevant parent undertaking; and an institution or financial institution Section 83(2)

institution — — a credit institution within the meaning given by Article 2.1(2) of 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 ; or an investment firm within the meaning given by Article 2.1(3) of that directive Schedule 3, Part 1, paragraph 2(4)

institution — a credit institution or an investment firm Section 2(1)

institution authorised in the UK — an institution which is an authorised person and— a bank within the meaning given by section 2 of the Banking Act 2009 ; a building society within the meaning given in section 119 of the Building Societies Act 1986 ; or an investment firm within the meaning given by section 258A of the Banking Act 2009 Schedule 3, Part 1, paragraph 2(4)

instruments of ownership — — shares, other instruments that confer ownership, instruments that are convertible into, or give the right to acquire, shares or other instruments of ownership, and instruments representing interests in shares or other instruments of ownership; “investment firm” has the meaning given in section 258A of the Banking Act 2009 “management body” has the meaning given in point (9) of Article 4.1 of the capital requirements regulation; “mixed activity holding company” has the meaning given by point (22) of Article 4.1 of the capital requirements regulation; “mixed financial holding company” has the meaning given by point (21) of Article 4.1 of the capital requirements regulation; “own funds” has the meaning given by point (118) of Article 4.1 of the capital requirements regulation; ... ... ... “parent undertaking” has the meaning given by point (15)(a) of Article 4.1 of the capital requirements regulation Section 2(1)

intended recipient — the group institution named in a relevant notice as the recipient of the financial support referred to in the notice Section 101(1)

intra-group guarantee — a contract by which one group entity guarantees the obligations of another group entity to a third party Schedule 2B, paragraph 1

measure for early intervention — a relevant measure which may be taken by the PRA or FCA in exercise of its powers under FSMA with the object of addressing the conditions for early intervention; .. Section 107

measures for structural change — — measures for changing the legal or operational structure of a group entity in order to ensure, through the application of resolution tools and the exercise of resolution powers, that critical functions can be separated, legally or operationally, from the performance of other functions; measures for establishing a UK parent financial holding company; or where an institution is a subsidiary of a relevant MAHC, measures for establishing a financial holding company as a parent undertaking of the institution for the purpose of— facilitating the application of resolution tools and the exercise of resolution powers to achieve any of the resolution objectives; or ensuring that applying the resolution tools and exercising the resolution powers does not have an adverse effect on the non-financial part of the group of the relevant MAHC Section 68(2)

minimum consolidated requirement — the requirement for a minimum level of own funds and eligible liabilities of the group institutions , including any transitional minimum consolidated requirement of the group institutions in accordance with article 126(2C) ...; “minimum requirement”, in relation to a group institution, means a minimum requirement for own funds and eligible liabilities , including any transitional minimum requirement in accordance with article 135(2C) ...; and “netting arrangement”— in relation to an institution authorised by the PRA or FCA, means a title transfer collateral arrangement, set-off arrangement or netting arrangement (within the meaning given by section 48(1)(b), (c) and (d) of the Banking Act 2009); .. Section 125(2)

minimum consolidated requirement — the minimum consolidated requirement (within the meaning given in Chapter 2) which is determined for the relevant group; “netting arrangement” has the same meaning as in Chapter 2; ... .. Section 133(2)

mixed activity holding company — a parent undertaking which— is not a credit institution, an investment firm, a financial holding company or a mixed financial holding company; and has at least one subsidiary which is a credit institution or an investment firm; after the definition of “reinsurance undertaking” insert— Schedule 3, Part 3, paragraph 11(2)

Mortgage credit institution — an institution— which does not have permission under Part 4A of FSMA to carry on the regulated activity of accepting deposits (within the meaning given by section 22 of that Act, read with Schedule 2 and any order under section 22); and whose lending— relates to an agreement under which the obligation of the borrower to repay is secured, or is to be secured, by a legal mortgage on land; and is financed by covered bonds Section 121(2)

notifying group entity — the group entity which has given a relevant notice Section 101(1)

plan — a recovery plan or a group recovery plan Schedule A1, paragraph 1

PRA-authorised person — a UK authorised person which is a PRA-authorised person within the meaning given by section 2B(5) of FSMA (the PRA's general objective) Section 2(1)

pre-resolution powers — the powers conferred on the Bank by section 3A of the Banking Act 2009 (removal of impediments to the exercise of stabilisation powers etc) Section 64(2)

property transfer instrument — a property transfer instrument (within the meaning given by section 33 ) made under section 11 (private sector purchaser), section 41A (transfer of property subsequent to resolution instrument), section 42 (supplemental instruments), section 42A (private sector purchaser: reverse property transfer), section 43 (onward transfer), section 44 (resolution company: reverse property transfer) or section 44A (bail-in: reverse property transfer) Section 184(3)

qualifying parent undertaking — — a qualifying parent undertaking within the meaning given by section 192B; or an undertaking which— is a parent undertaking of an institution (within the meaning given in section 137J(6) ) authorised in another EEA State; and would be a qualifying parent undertaking within the meaning given by section 192B if the institution were a qualifying authorised person within the meaning given by section 192A(1) Schedule 3, Part 1, paragraph 5(5)

recognised capital instruments — Common Equity Tier 1 instruments, Additional Tier 1 instruments or Tier 2 instruments which have been recognised for the purpose of meeting the own funds requirements (within the meaning given in section 3(1) of the Banking Act 2009 ) of institutions on an individual and a consolidated basis Section 149(2)

recovery and resolution directive — 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 Schedule 3, Part 3, paragraph 10(2)

recovery and resolution directive — 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 Schedule 3, Part 3, paragraph 7(2B)

recovery and resolution directive — 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 Schedule 3, Part 3, paragraph 8(2)

recovery and resolution directive — 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. after paragraph (1) insert— For the purpose of these Regulations— Schedule 3, Part 3, paragraph 9(2)

recovery and resolution directive information — confidential information received by— the Bank of England in the course of discharging its functions as a resolution authority under the recovery and resolution directive; the FCA or PRA in the course of discharging their functions as competent authorities under the recovery and resolution directive; a person appointed by the Bank of England under section 62B (resolution administrator) of the Banking Act 2009 to act as resolution administrator in the course of discharging that person's functions as such Schedule 3, Part 3, paragraph 8(2)

recovery plan — a recovery plan drawn up and maintained in accordance with Article 5 of the recovery and resolution directive or a group recovery plan drawn up and maintained in accordance with Article 7 of that directive Schedule 3, Part 3, paragraph 8(5)

recovery plan — a document which provides for measures to be taken by an institution authorised by the PRA or FCA which is not part of a group, following a significant deterioration of the financial position of the institution, in order to restore its financial position; .. Section 2(1)

regulated market — borrowed from another act; this instrument states no meaning of its own Schedule 3, Part 3, paragraph 10

relevant competent authority — a competent authority, other than the consolidating supervisor, which has authorised a group entity Section 101(1)

relevant competent authority — a competent authority, other than the consolidating supervisor, which has authorised a group entity Section 83(2)

relevant criteria — criteria that may be used to assess the impact that an institution's failure would have on financial markets, other institutions and on funding conditions Section 7(4B)

relevant criteria — criteria that may be used to assess the impact that an institution's failure would have on financial markets, other institutions and on funding conditions Section 8(3B)

relevant entity — an institution or group entity for which the Bank has adopted a resolution plan Section 53(6)

Relevant functions — any functions conferred on the Bank, the PRA or the FCA by or under— Part 1 of the Banking Act 2009; section 17 of the Financial Services (Banking Reform) Act 2013; any Regulations adopted under the recovery and resolution directive; this Order Section 223(2)

relevant group — the group constituted by an UK parent undertaking and its subsidiaries Section 2(1)

relevant institution — an institution which is authorised by the PRA or FCA and is not part of a group subject to supervision on a consolidated basis in accordance with the capital requirements regulation and CRR rules Section 107

relevant institution — an institution, other than a mortgage credit institution, which is authorised by the PRA or FCA and is not part of a group subject to supervision on a consolidated basis in accordance with the capital requirements regulation and CRR rules Section 121(1)

relevant institution — an institution which is authorised by the PRA or FCA and is not part of a group subject to supervision on a consolidated basis in accordance with the capital requirements regulation and CRR rules Section 36

relevant MAHC — a mixed activity holding company which has at least one subsidiary which— is an institution; and is not a subsidiary of a financial holding company which is also a subsidiary of the mixed activity holding company Schedule 3, Part 3, paragraph 11(2)

relevant measure — a measure— requiring an institution to— implement one or more of the arrangements or measures set out in the recovery plan; or review and (if appropriate) amend a recovery plan in accordance with article 33 when the circumstances that led to early intervention are different from the assumptions set out in the initial recovery plan and implement one or more of the arrangements or measures set out in the updated plan within a specified timeframe and to ensure that the conditions referred to in the introductory phase no longer apply; requiring the management body of an institution to examine the situation, identify measures to overcome any problems identified and draw up an action programme to overcome those problems and a timetable for its implementation; requiring the management body of an institution to convene, or, if the management body fails to comply with the requirement, to convene directly, a meeting of shareholders of the institution, and in both cases setting the agenda and requiring certain decisions to be considered for adoption by the shareholders; requiring any person to be removed or replaced if an approval is withdrawn from that person under section 63 of FSMA;… Section 107

relevant measures — measures to maintain or restore the viability and financial position of the institution, including measures to— reduce its risk profile, including its liquidity risk profile; review its structure and strategy; enable it to undertake timely recapitalisation; change its funding strategy in order to improve the resilience of core business lines and critical functions; and change its governance structure Section 11(2)

relevant measures — measures to maintain or restore the viability and financial position of a group institution, including measures to— reduce the institution's risk profile, including its liquidity risk profile; review its structure and strategy; enable it to undertake timely recapitalisation; change its funding strategy in order to improve the resilience of core business lines and critical functions; or change its governance structure; and .. Section 16(2)

relevant notice — a notice— given by a group entity; stating an intention to provide financial support under an authorised agreement; and required by rules made by the PRA or FCA under Part 9A of FSMA Section 101(1)

relevant parent undertaking — a UK parent institution, a financial holding company, a mixed financial holding company or a mixed activity holding company Section 83(2)

Relevant person — — an institution authorised in the UK; or a qualifying parent undertaking within the meaning given by section 192B . A “recovery plan” is a document which provides for measures to be taken— by an institution authorised in the UK which is not part of a group, following a significant deterioration of the financial position of the institution, in order to restore its financial position; or in relation to a group, to achieve the stabilisation of the group as a whole, or of any institution within the group, where the group or institution is in a situation of financial stress, in order to address or remove the causes of the financial stress and restore the financial position of the group or institution. For the purposes of subsection (3)(a) the definition of “group” in section 421 applies with the omission of subsection (1)(e) and (f) of that section Schedule 3, Part 1, paragraph 2(3)

relevant power — the power conferred by sections 12A (bail-in option), 48B (special bail-in provision) and 81BA (bail-in option) of the Banking Act 2009 to convert the entity's eligible liabilities into Common Equity Tier 1 instruments of— the entity; or a parent undertaking of the entity Section 155(7)

relevant proposals — proposals which— are prepared by an institution to which notice is given under article 65; are for taking measures to address or remove the impediments including a timetable for doing so; and are required to be submitted by the institution within the response period Section 64(2)

remedial measures — measures to address or remove the impediments Section 68(2)

resolution administrator — the individual or body corporate appointed by the Bank under section 62B of the Banking Act 2009 as the resolution administrator of the institution Section 159(2)

resolution entity — an entity that is identified in a resolution plan or a group resolution plan as an entity in respect of which resolution action might be taken Section 2(1)

resolution group — a resolution entity together with any subsidiary where the subsidiary— is not a resolution entity itself; is not a subsidiary of another resolution entity; or is established in a third country and is stated by the group resolution plan under Part 5 to be included in the resolution group; “resolution objectives”, in relation to the application of resolution tools or the exercise of resolution powers— ... means the special resolution objectives set out in section 4 of the Banking Act 2009 Section 2(1)

resolution instrument — a resolution instrument made under section 12A (bail-in option), section 48U (supplemental resolution instruments), section 48V (onward transfer) or section 48W (reverse transfer) Section 184(3)

resolution plan — a resolution plan drawn up in accordance with Article 10 of the recovery and resolution directive or a group recovery plan drawn up in accordance with Articles 12 and 13 of that directive Schedule 3, Part 3, paragraph 8(5)

resolution plan — a document which makes provision relating to the resolution action to be taken in the event that an institution or other person meets the conditions for resolution Section 2(1)

resolution plan — a plan adopted by the Bank under Chapter 1...; and “up-dated plan”, in relation to a resolution plan, means that plan as reviewed in accordance with this article (whether or not it has been amended on review) Section 53(6)

resolution powers — the powers of the Bank under Part 1 of the Banking Act 2009 other than those exercised in applying the resolution tools; “resolution tools”— ... means stabilisation options referred to in paragraphs (a), (b), (ba) and (c) of section 1(3) of the Banking Act 2009 (overview: special resolution regime) Section 2(1)

response period — — in a case where the institution does not... meet ... the minimum requirement for own funds and eligible liabilities in accordance with section 3A(4B) of the Banking Act, two weeks beginning with the date on which the institution received the notice; and in any other case, four months beginning with that date Section 64(2)

response period — — in a case where the institution does not, as applicable, meet the requirements referred to in Articles 92a and 494 of the capital requirements regulation or the minimum requirement for own funds and eligible liabilities in accordance with section 3A(4B) of the Banking Act, two weeks beginning with the date on which the institution received the notice; and in any other case, four months beginning with that date Section 68(2)

share transfer instrument — a share transfer instrument (within the meaning given by section 15) made under section 11, section 26 (supplemental instruments), section 26A (private sector purchaser: reverse share transfer), section 30 (resolution company: share transfers) or section 31 (resolution company: reverse share transfer) Section 184(3)

share transfer order — a share transfer order (within the meaning given by section 16) made by the Treasury under section 13 (temporary public ownership), section 27 (supplemental orders), section 28 (onward transfer) or section 29 (reverse share transfer); and “third-country instrument” has the meaning given in section 89I(4) Section 184(3)

shareholders — shareholders or holders of other instruments of ownership; “subsidiary” has the meaning given by point (16) of Article 4.1 of the capital requirements regulation Section 2(1)

stabilisation instrument — any of the following— a “mandatory reduction instrument” made under section 6B of the Banking Act 2009 ; a “resolution instrument” made under section 12A of the Banking Act 2009 ; a “share transfer instrument” as defined in section 15 of the Banking Act 2009; a “share transfer order” as defined in section 16 of the Banking Act 2009; a “property transfer instrument” as defined in section 33 of the Banking Act 2009 ; or a “third country instrument” made under section 89H of the Banking Act 2009 ; for the definition of “EEA regulator” substitute— Schedule 3, Part 3, paragraph 10(2)

stabilisation instrument — — made by the Bank in the exercise of the stabilisation powers provided for in section 1(4) of the Banking Act 2009, and for these purposes “share transfer instrument”, “property transfer instrument”, “resolution instrument” and “third country instrument” have the meaning given in article 184; a share transfer instrument, a property transfer instrument, a resolution instrument, or a third-country instrument, a transfer is a “relevant transfer” if it transfers to any person— property, rights or liabilities of the institution under resolution or of a relevant resolution company; or securities issued by the institution under resolution or by a relevant resolution company; for the purposes of sub-paragraph (b)— “resolution company” has the meaning given by section 29A of the Banking Act 2009 ; and a resolution company is a relevant resolution company if property, rights or liabilities of the institution under resolution have been transferred to it Section 186(2)

supervisory measure — a power of the FCA or PRA by or under legislation upon which the United Kingdom relied immediately before IP completion day to meet its obligations with respect to Article 104.1 of the capital requirements directive Section 181

temporary manager — a temporary manager appointed by the appropriate regulator under section 71C of FSMA Section 107

the Bank — the Bank of England acting otherwise than in its capacity as the Prudential Regulation Authority Section 2(1)

the capital requirements directive — Directive 2013/36/EU of the European Parliament and of the Council of 26th June 2013 on access to the activity of credit institutions and the prudential supervisions of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC Section 2(1)

the capital requirements regulation — Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms; .. Section 2(1)

the FCA — the Financial Conduct Authority”; “financial holding company” has the meaning given by point (20) of Article 4.1 of the capital requirements regulation; “financial institution”, except in Part 18, has the meaning given by point (26) of Article 4.1 of the capital requirements regulation Section 2(1)

the plan — the group resolution plan being drawn up for the relevant group (or the group resolution plan which has been adopted for the group and is being reviewed); “pre-resolution powers” has the same meaning as in Chapter 3; “qualifying parent undertaking” has the meaning given by section 192B of FSMA (meaning of “qualifying parent undertaking”) Section 68(2)

the PRA — the Prudential Regulation Authority Section 2(1)

the recovery and resolution directive — 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 and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No. 1093/2010 and (EU) No. 648/2012, of the European Parliament and of the Council as last amended by Directive (EU) 2019/879 of the European Parliament and of the Council of 20th May 2019 Section 2(1)

the reorganisation and winding up directive — Directive 2001/24/EC of the European Parliament and of the Council of 4th April 2001 on the reorganisation and winding up of credit institutions as amended by Article 117 of the recovery and resolution directive Schedule 3, Part 3, paragraph 10(2)

the use of resolution tools, powers and mechanisms — — the exercise by the Bank or the Treasury of a stabilisation power (within the meaning given in section 1(4) of the Banking Act 2009); the making by the Bank of a mandatory reduction instrument (within the meaning given in section 6B of that Act ); or the exercise by the Treasury of its powers under section 228 of the Banking Act 2009, subject to the requirements of the capital requirements regulation and CRR rules, where the Treasury is applying the public equity support tool; and “UK-registered company” has the meaning given in section 1158 of the Companies Act 2006 (meaning of UK-registered company) Section 216(1)

third country — a country or territory other than the United Kingdom Section 2(1)

third country investment firm — an investment firm as defined in point (2) of Article 4(1) of the capital requirements regulation whose head office is not in an EEA State. Part 5 of these Regulations applies to third country investment firms as if such firms were third country credit institutions (within the meaning given by regulation 36(1)(b) (interpretation of Part 5)) Schedule 3, Part 3, paragraph 10(13)

third country investment firm — an investment firm as defined in point (2) of Article 4(1) of the capital requirements regulation whose head office is not in an EEA State Schedule 3, Part 3, Part 8, paragraph 48

UK authorised person — an authorised person (within the meaning given in section 31 of FSMA ) which is incorporated in, or formed under the law of, any part of the United Kingdom; “UK parent financial holding company” has the meaning given in point (30) of Article 4.1 of the capital requirements regulation; “UK parent institution” has the meaning given in point (28) of Article 4.1 of the capital requirements regulation; “UK parent mixed financial holding company” has the meaning given in point (32) of Article 4.1 of the capital requirements regulation Section 2(1)

UK entity — — an institution which is authorised by the PRA or FCA and is not part of a group subject to supervision on a consolidated basis in accordance with the capital requirements regulation and CRR rules; or in relation to a relevant group, a group entity set up in the United Kingdom Section 154

UK group company — — the head office of which is in the United Kingdom and which is not otherwise subject to these Regulations. a financial institution as defined in point (26) of Article 4(1) of the capital requirements regulation that is authorised by the PRA or FCA, a parent undertaking as defined in Article 4(1)(15)(a) of the capital requirements regulation, or any other firm within the scope of Article 1(1) of the recovery and resolution directive, These Regulations apply to UK group companies with respect to which a stabilisation instrument has been made, as if they were UK credit institutions. These Regulations apply to EEA group companies with respect to which one or more of the resolution tools or resolution powers provided for in the recovery and resolution directive have been applied, as if they were EEA credit institutions, subject to the modifications set out in this Part. Regulation 5 (reorganisation measures and winding-up proceedings in respect of EEA group companies effective in the United Kingdom) applies to EEA group companies as if, in paragraph (6), the phrase “relevant EEA State” meant the EEA State under the law of which the reorganisation is adopted or imposed, or the… Schedule 3, Part 3, paragraph 10(13)

UK group company — — the head office of which is in the United Kingdom and which is not otherwise subject to these Regulations. a financial institution as defined in point (26) of Article 4(1) of the capital requirements regulation that is authorised by the PRA or FCA, a parent undertaking as defined in Article 4(1)(15)(a) of the capital requirements regulation, or any other firm within the scope of Article 1(1) of the recovery and resolution directive Schedule 3, Part 3, Part 7, paragraph 44

UK group entity — a group entity set up in the United Kingdom Section 101(1)

UK group entity — — the UK parent undertaking...; a group subsidiary which is an institution authorised by the PRA or FCA Section 110(2)

UK group entity — a group entity which is a bank or banking group company and has issued recognised capital instruments Section 149(2)

UK institution — an institution which is authorised by the PRA or FCA and is not a mortgage credit institution within the meaning given in Chapter 1 Section 147(4)

UK investment firm — an investment firm as defined in subsections (1) and (2)(a) of section 258A of the Banking Act 2009. These Regulations apply to UK investment firms as if such firms were UK credit institutions, subject to the modifications set out in this Part. These Regulations apply to EEA investment firms as if such firms were EEA credit institutions, subject to the modifications set out in this Part. Paragraph (3) of regulation 11 (withdrawal of authorisation) applies to UK investment firms as if the reference in that paragraph to section 55J of the 2000 Act included a reference to any other power of the FCA or PRA under that Act to vary or cancel any permission of a body or firm. Regulation 5 (reorganisation measures and winding-up proceedings in respect of EEA credit institutions effective in the United Kingdom) applies to EEA investment firms as if, in paragraph (6), the phrase “relevant EEA State” meant the EEA State under the law of which the reorganisation is adopted or imposed, or the winding-up proceedings are opened, as the case may be. In this Part— Schedule 3, Part 3, paragraph 10(13)

UK investment firm — an investment firm as defined in subsections (1) and (2)(a) of section 258A of the Banking Act 2009 Schedule 3, Part 3, Part 6, paragraph 39

UK parent undertaking — a UK parent institution, UK parent financial holding company or UK parent mixed financial holding company Section 2(1)

undertaking — — an institution which is authorised by the PRA or FCA and is not part of a group subject to supervision on a consolidated basis in accordance with the capital requirements regulation and CRR rules; in relation to a relevant group, a group entity set up in the United Kingdom; or a mixed activity holding company set up in the United Kingdom Section 181

up-dated plan — the recovery plan after it has been reviewed pursuant to this article (whether or not it has been amended on review) Section 33(8)

up-dated plan — the group recovery plan after it has been reviewed pursuant to this article (whether or not it has been amended on review) Section 34(8)