Section 165(2)

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 ...

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