Section 111

This article applies where the appropriate regulator proposes to take a measure for early intervention or appoint a temporary manager in respect of a UK group entity. The appropriate regulator must without delay give notice of its proposal to the Bank.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The appropriate regulator must give the Bank notice of a decision to take a measure for early intervention or to appoint a temporary manager in respect of a UK group entity. The appropriate regulator may not take a measure for early intervention without prescribing a date before which the action required to be taken in compliance with the measure is to be completed. The appropriate regulator must give the UK group entity referred to in a notice given under paragraph (4) and the UK parent undertaking, if it is not the entity concerned, written notice of its decision to take a measure for early intervention or to appoint a temporary manager, including a reasoned account of the decision.

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