Part VU.K. Performance of Regulated Activities

Modifications etc. (not altering text)

[F1Removal of directors and senior executives and appointment of temporary managerU.K.

Textual Amendments

F1Ss. 71B-71I and cross-heading inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 32

71G.Right to refer matters to the TribunalU.K.

(1)A relevant firm which is aggrieved by—

(a)the imposition of a requirement on that firm under section 71B, or

(b)the appointment, or the terms of the appointment, of a person to act as a temporary manager of that firm under section 71C(1),

may refer the matter to the Tribunal.

[F2(1A)An institution, financial holding company or mixed financial holding company which is aggrieved by the imposition of a requirement on that institution or holding company under section 71B(3) may refer the matter to the Tribunal.]

(2)A parent undertaking which is aggrieved by—

(a)the imposition of a requirement on that parent undertaking under section 71C(2), or

(b)the appointment, or the terms of the appointment, of a person to act as a temporary manager of that parent undertaking under section 71C(1),

may refer the matter to the Tribunal.

(3)A director (or a former director) of a relevant firm or a parent undertaking who is aggrieved by the imposition of a requirement on that director under section 71C(8) may refer the matter to the Tribunal.

(4)A director or senior executive (or a former director or senior executive) of a relevant firm or a parent undertaking who is aggrieved by the imposition of a requirement on that firm or parent undertaking under section [F371B(1) or (2)] or 71C(2) may refer the matter to the Tribunal.

[F4(5)A director (or former director) of an institution, a financial holding company or a mixed financial holding company who is aggrieved by the imposition of a requirement on that institution or holding company under section 71B(3) may refer the matter to the Tribunal.]]

Textual Amendments