Section 165

This Chapter applies where, in relation to a relevant group— the PRA or FCA is the consolidating supervisor; a relevant bail-in power has been exercised in respect of two or more group entities; and a group entity submits a business reorganisation plan to the Bank for assessment in accordance with section 48H of the Banking Act 2009 (including that section as applied in consequence of the provision made by section 81BA, 83A, 84 or 89A of that Act). In this Chapter— ... “four month period” means four months beginning with the date on which the Bank receives the business reorganisation plan under paragraph (1)(c); “group institution” means— 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 entity should be required to revise the plan; whether an impediment has been adequately addressed in a revision of the plan; and where an impediment has not been adequately addressed in a revision of the plan, how it can be adequately addressed by directing a group entity to make specific changes to the plan; and ...

← 164 · All articles · 1 →

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