Schedule 3, Part 3, paragraph 8(5)

After regulation 10, insert— The Bank of England may disclose recovery and resolution directive information to any person for the purpose of enabling the Bank to prepare for and carry out the functions given to it under— provided that any such disclosure is made subject to the conditions in paragraph (2), and following the assessment required in regulation 10B. Parts 1, 2 and 3 of the Banking Act 2009, or the Investment Bank Special Administration Regulations 2011 , A disclosure made by the Bank of England under paragraph (1) must be made subject to— a requirement that the information disclosed is kept confidential and not disclosed to any other person without the consent of the Bank; and restrictions imposed by the Bank as to the way in which the information may be used. A resolution administrator appointed under section 62B of the Banking Act 2009 may disclose recovery and resolution directive information to a regulator. Before any disclosure is made of recovery and resolution directive information the person disclosing that information must— assess the possible effects of disclosing the information in question on— the public interest in relation to financial, monetary or economic policy; the commercial interests of natural and legal persons; the purpose of any investigation, inspection or audit to which the information is relevant; and where the information in question relates to the recovery plan or resolution plan of any undertaking, assess the effects of the disclosure of any part of that recovery plan or resolution plan. In this regulation— “recovery plan” means 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; and “resolution plan” means 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.

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