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The Bank Recovery and Resolution (No. 2) Order 2014
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Changes and effects yet to be applied to Article 108:
- art. 126(8)(a)(vi) word substituted by S.I. 2025/82 Sch. 9 para. 15(c)
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- art. 126(8)(a)(vi) word substituted by S.I. 2025/82 Sch. 9 para. 15(c)
Notice that institution meets the conditions for early interventionU.K.
This section has no associated Explanatory Memorandum
108.—[F1(1)] The appropriate regulator must notify the Bank without delay if it determines that a relevant institution meets the conditions for early intervention [F2or the appointment of a temporary manager].
[F3(2) The PRA and the FCA may each make technical standards relating to the circumstances in which a relevant institution may be taken as meeting the conditions for early intervention.]
Textual Amendments
F1Art. 108 renumbered as art. 108(1) (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. 61(1); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in art. 108 inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 41(3)
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