Section 159

This Chapter applies where— an institution 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; the Bank has made a resolution instrument under section 12A of the Banking Act 2009 (bail-in option) in respect of the institution; and the management body of the institution or the resolution administrator submits a business reorganisation plan to the Bank for assessment in accordance with section 48H of the Banking Act 2009 (business reorganisation plan). In this Chapter— ... ... “resolution administrator” means the individual or body corporate appointed by the Bank under section 62B of the Banking Act 2009 as the resolution administrator of the institution.

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