lexiara

The Bank Recovery and Resolution (No. 2) Order 2014

law · United Kingdom · uksi/2014/3348

752 provisions

Defined terms · All instruments

1 Citation and commencement
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2
3
2 Interpretation
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2
3
4
3 Application of Order
4 Designation of the Bank as resolution authority
5 Designation for the purposes of Article 59 of the recovery and resolution directive
6 Designation of the Treasury as the ministry responsible for exercising the functions of the competent ministry
7 Recovery planning: preparatory steps and simplified obligations
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2
3
3A
3B
4
4A
4B
8 Resolution planning: preparatory steps and simplified obligations
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2
3
3A
3B
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5
9 Consultation with the Financial Policy Committee
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2
3
10 Provision of information to EBA
11 Application and interpretation of Chapter 1
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2
12 Assessment of plan
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2
3
13 Criteria for assessment
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1A
2
3
14 Revision of plan
1
2
15 Business changes and relevant measures
1
2
16 Application and interpretation of Chapter 2
1
2
17 Duty to transmit a copy of group recovery plan
1
2
18 Assessment of group recovery plan
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2
3
4
19 Purpose of assessment
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2
2A
3
4
20 Timing of assessment of plan
21 Joint assessment of plan
22 Revision of plan
2
23 Business changes and relevant measures
1
2
24 Recovery plan for group institution
25 References to EBA
26 Requesting the assistance of EBA
27 Application and interpretation of Chapter 3
28 Purpose of assessment
29 Joint assessment of plan
30 Assessment of recovery plans drawn up on an individual basis
31 References to EBA
32 Requesting the assistance of EBA
33 Review of recovery plan
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34 Review of group recovery plan assessed under Chapter 2
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35 Review of group recovery plan assessed under Chapter 3
36 Interpretation of Chapter 1
37 The Bank's duty to draw up resolution plans
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2A
3
3A
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5
38 Duty to transmit a copy of the resolution plan
39 Application of Chapter 2
40 The Bank's duty to draw up group resolution plans
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3A
4
4A
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6A
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41 Information to be transmitted for the purpose of drawing up group resolution plans
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42 Joint decision on adoption of group resolution plan
43 References to EBA
44 Requesting the assistance of EBA
45 Duty to transmit a copy of the group resolution plan
46 Application and interpretation of Chapter 3
47 Joint decision on adoption of group resolution plan
48 Failure to reach joint decision: disagreement by the Bank with a joint proposal
49 Failure to reach joint decision: agreement by the Bank with a joint proposal
50 Resolution plan for group entity
51 References to EBA
52 Requesting the assistance of EBA
53 Review of resolution plan
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6
54 Review of group resolution plan drawn up by the Bank
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55 Review of group resolution plan drawn up by another resolution authority
56 Information required for resolution planning
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57 Notice of matters which could necessitate an amendment of a plan
58 Records of financial contracts
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2A
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4
59 Application and interpretation of Chapter 1
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2
60 Assessment of resolvability
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2
2A
3
4
5
61 Application and interpretation of Chapter 2
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2
62 Assessment of group resolvability where the PRA or FCA is the consolidating supervisor
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2
3
3A
4
5
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8
63 Assessment of group resolvability where neither the PRA nor the FCA is the consolidating supervisor
64 Application and interpretation of Chapter 3
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2
65 Notice of determination
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2
66 Effect of notice of determination
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5
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7
67 Right of appeal
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2
68 Application and interpretation of Chapter 4
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2
3
69 Report on substantive impediments to the resolvability of group entities
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2
70 Suspension of requirement to draw up or review group resolution plan
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3
71 Determining remedial measures
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5
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72 Joint decision on impediments to group resolvability and remedial measures
73 References to EBA
74 Requesting the assistance of EBA
75 Application and interpretation of Chapter 5
75A Report on substantive impediments to the resolvability of group entities
76 Suspension of requirement to draw up or review group resolution plan
77 Determining remedial measures
78 Joint decision on impediments to group resolvability and remedial measures
79 Failure to reach joint decision: disagreement by the Bank with joint proposals
80 Failure to reach joint decision: agreement by the Bank with joint proposals
81 References to EBA
82 Requesting the assistance of EBA
83 Application and interpretation of Chapter 1
1
2
2A
84 Review of group financial support agreement and decision on authorisation
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2
3
4
5
85 Duty to transmit a copy of application
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2
86 Joint decision with other competent authorities
87 References to EBA
88 Requesting the assistance of EBA
89 Duty to transmit a copy of authorised agreement
90 Amendment of authorised agreement
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2
3
91 Application and interpretation of Chapter 2
92 Review of group financial support agreement and decision on authorisation
93 Joint decision with other competent authorities
94 References to EBA
95 Requesting the assistance of EBA
96 Amendment of authorised agreement
97 Interpretation of Chapter 3
1
2
98 Requirement for approval of authorised agreement
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2
3
98A Publication of information concerning group financial support agreements
99 Revocation of authorised agreement
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2
3
4
5
100 Obligation to provide annual report
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2
101 Interpretation of Chapter 4
1
2
102 Relevant notice from UK group entity: decision by the PRA or FCA
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2
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4
103 Duties of consolidating supervisor where financial support agreed, prohibited or restricted
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5
104 Re-assessment of recovery plans by the PRA or FCA where it is not the consolidating supervisor
105 Requesting the assistance of EBA
106 Reciprocal support
107 Interpretation of Chapter 1
108 Notice that institution meets the conditions for early intervention
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2
109 Deadline for compliance with measure for early intervention
110 Application and interpretation of Chapter 2
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2
111 Procedure for early intervention in respect of a UK group entity
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6
112 Procedure for early intervention in respect of a non-UK group entity
113 Joint decisions about early intervention
114 References to EBA
115 Requesting the assistance of EBA
116 Application and interpretation of Chapter 3
117 Procedure for early intervention in respect of a UK group entity
118 Joint decisions about early intervention
119 References to EBA
120 Requesting the assistance of EBA
121 Interpretation of Chapter 1
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2
3
122 Duties of the Bank in relation to minimum requirement
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2
123 Determination of minimum requirement
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1A
1B
1C
1D
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7
8
124 Review of minimum requirement
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2
125 Application and interpretation of Chapter 2
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2
3
126 Determination of minimum consolidated requirement
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2
2A
2B
2C
2D
3
4
5
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9
127 Joint determination
128 References to EBA: determination of minimum consolidated requirement
129 Review of minimum consolidated requirement
1
2
130 Application and interpretation of Chapter 3
131 Joint determination of minimum consolidated requirement
132 Review of minimum consolidated requirement
133 Application and interpretation of Chapter 4
1
2
134 Duties of the Bank in relation to minimum requirement
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2
3
135 Determination of minimum requirement
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2
2A
2B
2C
2D
3
4
5
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7
136 Joint determination of minimum requirements
137 References to EBA: determination of minimum requirement
138 Review of minimum requirements
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2
139 Minimum requirement for other group entities set up in the United Kingdom
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2
3
140 Application and interpretation of Chapter 5
141 Duties of the Bank in relation to minimum requirement
142 Determination of minimum requirement
143 Joint determination of minimum requirements
144 References to EBA: determination of minimum requirement
145 Review of minimum requirements
146 Minimum requirement for other group entities set up in the United Kingdom
147 Waiver of application of Chapter 4 ...
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4
148 Meeting minimum requirement through contractual bail-in instruments etc
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4
149 Application and interpretation of Part
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2
3
150 Determinations under section 6A and 81AA of the Banking Act 2009: preliminary steps for UK group entities
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151 Regulator to take alternative measures
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2
152 Determination that Case 2, 3, 4 or 5 is satisfied
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153 Joint determination under Article 59(3)(c) of the recovery and resolution directive in relation to a non-UK group entity
154 Interpretation of Part
155 Requirement to increase or remove limit on share capital
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156 Removal of impediments to the conversion of liabilities into shares
156A Contractual recognition of bail-in: technical standards
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157 Application and interpretation of Part
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2
158 Liabilities arising from derivative contracts
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2
3
4
159 Application and interpretation of Chapter 1
1
2
160 Assessment of business reorganisation plan
161 Purpose of assessment
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2
3
4
162 Revision of plan
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2
163 Application and interpretation of Chapter 2
1
2
164 Assessment etc of business reorganisation plan
165 Application and interpretation of Chapter 3
1
2
166 Duty to transmit a copy of business reorganisation plan
167 Assessment of business reorganisation plan
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2
3
168 Purpose of assessment
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2
3
169 Assessment of plan where every group entity is set up in the United Kingdom
170 Joint assessment of plan
171 Revision of plan
2
172 Assessment of business reorganisation plans drawn up on an individual basis
173 References to EBA
174 Requesting the assistance of EBA
175 Application and interpretation of Chapter 4
176 Purpose of assessment
177 Joint assessment of plan
178 Assessment of business reorganisation plans drawn up on an individual basis
179 References to EBA
180 Requesting the assistance of EBA
181 Interpretation of Part
182 Matters to be notified by the regulator to the Bank
183 Notification that an undertaking is failing or likely to fail
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2
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5
184 Duty to send copy of share transfer instrument etc to members and creditors of institution
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184A Notifications under articles 182, 183 and 184
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185 Stay of legal proceedings
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2
186 Remedies on judicial review
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187 Principles for reaching decisions which may have an impact in two or more EEA States
188 Information exchange
189 Requirements for group resolution schemes
190 Application of Chapter 2
191 Duty to establish a resolution college
192 Membership of resolution college
193 Functioning of resolution college
194 Use of an existing resolution college
195 Application of Chapter 3
196 Establishment and functioning of a European resolution college
197 Recognition of third-country resolution action
198 Use of an existing resolution college
199 Application and interpretation of Chapter 4
200 Assessment of impact of notified measures
201 Joint decision on adoption of group resolution scheme
202 Requesting the assistance of EBA
203 Application Chapter 5
204 Bank decision that group subsidiary meets the conditions for resolution
205 Joint decision on adoption of group resolution scheme
206 Failure to reach joint decision: disagreement by the Bank with joint proposals
207 Requesting the assistance of EBA
208 Application and interpretation of Chapter 6
209 Bank decision that EEA parent undertaking meets the conditions for resolution
210 Joint decision on adoption of group resolution scheme
211 Requesting the assistance of EBA
212 Application of Chapter 7
213 Joint decision on adoption of group resolution scheme
214 Failure to reach joint decision: disagreement by the Bank with joint proposals
215 Requesting the assistance of EBA
216 Interpretation of Part
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4
217 Shadow directorship
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218 Modified application of legislation on cross-border mergers
219 Modified application of the Companies Act 2006 (disapplication of Takeover Rules)
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2
220 Modified application of the Companies Act 2006 (disapplication of other requirements)
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220A Modified application of the Companies Act 2006 (shareholders’ rights)
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5
221 Investment firms to be treated as financial institutions
222 Continuity
223 Duty to co-operate
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2
224 Non-binding co-operation arrangements in line with EBA framework arrangements
225 Duty to inform EBA of imposition of penalties
226 Amendments of primary and secondary legislation
227 Review
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1 Impediments to the effectiveness of resolution action
2 The context for resolution action
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3 Application for the use of the Bank's facilities
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2
4 Options for applying the resolution tools and exercising the resolution powers
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3
1 The context for resolution action
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2 Contents of group resolution plan
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4
1
2
1
2
1 Amendments of FSMA
2 Recovery plans
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2
3
4
3 Rules about resolution packs: duty to consult
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4 Special provision relating to adequacy of resolution plans
5 Recovery plans and resolution packs: restriction on duty of confidence
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6 Amendment of the Financial Services (Banking Reform) Act 2013
7 Financial Markets and Insolvency (Settlement Finality) Regulations 1999
2A
2B
8 Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001
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7
9 Financial Collateral Arrangements (No 2) Regulations 2003
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4
10 Credit Institutions (Reorganisation and Winding up) Regulations 2004
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11 Financial Services and Markets Act 2000 (Prescribed Financial Institutions) Order 2013
1
2
3
12 Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013
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3
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6
13 Capital Requirements Regulations 2013
39 Interpretation of this Part
40 Application to UK investment firms
41 Application to EEA investment firms
42 Withdrawal of authorisation
43 Reorganisation measures and winding-up proceedings in respect of EEA investment firms effective in the United Kingdom
44 Interpretation of this Part
45 Application to UK group companies
46 Application to EEA group companies
47 Reorganisation measures and winding-up proceedings in respect of EEA group companies effective in the United Kingdom
48 Interpretation of this Part
49 Application to third country investment firms
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3A
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2
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2A
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