10.—(1) Where [F1the FCA or the PRA] is informed of a decision, order or appointment in accordance with regulation 9, [F2that authority] must as soon as is practicable inform the relevant person—
(a)that the decision, order or appointment has been made; and
(b)in general terms, of the possible effect of a decision, order or appointment of that kind on the business of a credit institution.
(2) Where [F1the FCA or the PRA] has been represented at all hearings in connection with the application in relation to which the decision, order or appointment has been made, [F2that authority] must inform the relevant person of the matters mentioned in paragraph (1) as soon as is practicable after that decision, order or appointment has been made.
(3) Where, on or after 5th May 2004, it appears to [F3the Bank of England,] the [F4FCA or the PRA] that a directive reorganisation measure should be adopted in relation to or imposed on an EEA credit institution which has a branch in the United Kingdom, it will inform the home state regulator as soon as is practicable.
(4) In this regulation, the “relevant person” means the EEA regulator of any EEA State in which the UK credit institution has a branch.
Textual Amendments
F1Words in reg. 10(1)(2) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), reg. 1(1), Sch. 2 para. 91(f)(i) (with Sch. 2 para. 92)
F2Words in reg. 10(1)(2) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), reg. 1(1), Sch. 2 para. 91(f)(ii) (with Sch. 2 para. 92)
F3Words in reg. 10(3) inserted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 10(4)
F4Words in reg. 10(3) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), reg. 1(1), Sch. 2 para. 91(g) (with Sch. 2 para. 92)