58.—(1) The Bank may give directions to a relevant person in relation to maintaining detailed records of financial contracts(1) to which the relevant person is a party.
(2) A “relevant person” is—
(a)an institution authorised by the PRA or FCA; or
(b)an undertaking set up in the United Kingdom which is a subsidiary of an institution authorised by the PRA or FCA or in another EEA State; or
(c)the EEA parent undertaking.
(3) A direction given by the Bank may—
(a)require records of financial contracts to be maintained;
(b)specify the details or kinds of detail which are to be recorded;
(c)require records of financial contracts to be produced at the request of the Bank;
(d)specify a period of time within which a relevant person is to be capable of producing records (“a time-limit”);
(e)specify different time-limits for different kinds of financial contract.
(4) Directions may be given with general effect or with respect to a particular relevant person or class of relevant persons, but may not specify different time-limits for different relevant persons or classes of relevant person.
For the meaning of “financial contracts” see the recovery and resolution directive, Article 2.1, point (100).