PART 4Recovery plans

CHAPTER 2Assessment of group recovery plan where the PRA or FCA is the consolidating supervisor

Revision of plan22

The appropriate regulator—

a

must notify a UKF2parent undertaking if the group recovery plan is found on assessment to contain an impediment; and

b

may not require a UKF2parent undertaking to revise the plan without giving it an opportunity to state its opinion on that requirement.

2

If the appropriate regulator requires a UKF3parent undertaking to revise the plan, it must allow F1the undertaking two months, which it may on application by F1the undertaking extend to three months, to prepare a plan which demonstrates that the impediment has been addressed.