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

Duty to co-operate U.K.

223.—(1) The Bank, the PRA and the FCA must ensure that all persons who are responsible for performing relevant functions under authority delegated by the Bank, PRA or FCA co-operate closely with one another in the course of performing those functions.

[F1 (2) “Relevant functions” means any functions conferred on the Bank, the PRA or the FCA by or under—

(a) Part 1 of the Banking Act 2009;

(b) section 17 of the Financial Services (Banking Reform) Act 2013;

(c) any Regulations adopted under the recovery and resolution directive;

(d) this Order.]

Textual Amendments

F1 Art. 223(2) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 113(2); 2020 c. 1, Sch. 5 para. 1(1)