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The Credit Institutions (Reorganisation and Winding up) Regulations 2004
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- UK Statutory Instruments
- 2004 No. 1045
- PART 3
- Regulation 10
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Notification to EEA regulators
10.—(1) Where the Authority is informed of a decision, order or appointment in accordance with regulation 9, the 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 the Authority has been represented at all hearings in connection with the application in relation to which the decision, order or appointment has been made, the 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 the Authority 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.
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