http://www.legislation.gov.uk/ukdsi/2014/9780111123782/article/98
The Bank Recovery and Resolution Order 2014
en
King's Printer of Acts of Parliament
2016-04-14
BANKS AND BANKING
FINANCIAL SERVICES AND MARKETS
2015-01-01
This Order implements in part Directive 2014/59/EU of the European Parliament and of the Council of 15th May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms (“RRD”) (OJ L173, 12.6.2014, p.190). The RRD requires EEA states to have powers to manage the failure of credit institutions and investment firms and their group companies (“banks”) as an alternative to insolvency, in order to ensure that critical functions continue to be performed.
The Bank Recovery and Resolution Order 2014 (revoked)
Creation of Chapter 5 of Part 198
Sections 83A to 89G become Chapter 5 of Part 1, entitled “Special cases”.