Schedule 3, Part 1, paragraph 5

Section 137N (recovery plans and resolution plans: restriction on duty of confidence) is amended as follows. For the words “resolution plan”, wherever they appear, substitute “ resolution pack ”. In subsection (2) after “authorised person” insert “ or a qualifying parent undertaking ”. In subsection (3)(a) and (b) for “that plan” substitute “ that plan or pack ”. In subsection (5) after the definition of “authorised person” insert— “qualifying parent undertaking” means— 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) . Accordingly, in the heading for “resolution plans” substitute “ resolution packs ”.

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Source: legislation.gov.uk · retrieved 2026-09-04