Section 171

The Bank— must notify a ... group entity if the business reorganisation plan is found on assessment to contain an impediment; and may not require a ... group entity to revise the plan without giving it an opportunity to state its opinion on that requirement. If the Bank requires a ... group entity to revise the plan, the Bank— must allow two weeks for the preparation of a plan which demonstrates that the impediment has been addressed; within one week beginning with the date on which a revised plan is submitted, must notify the entity whether the impediment has been adequately addressed in the revised plan; and if the impediment has not been adequately addressed in the revised plan, must direct the entity to make specific changes to the plan.

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