PART 5Resolution plans
CHAPTER 2Group resolution plan where the PRA or FCA is the consolidating supervisor
The Bank's duty to draw up group resolution plans40
1
Where every group entity is set up in the United Kingdom, the Bank must draw up and adopt a group resolution plan, and is solely responsible for the plan.
2
Where a group entity is set up in another EEA State, the Bank must endeavour within the college to draw up and adopt a group resolution plan jointly with the resolution authority for that entity.
3
Subject to the imposition of any simplified obligations (within the meaning given by article 9(3)(b)) with respect to a group resolution plan, the plan must contain the information, and be drawn up with regard to the considerations, set out in Schedule 2.
4
The resolution plan must be drawn up on the basis of—
a
the information provided for that purpose by a group entity set up in the United Kingdom or by the appropriate regulator; and
b
any other relevant information.
5
For the purpose of drawing up a group resolution plan, the Bank must consult—
a
the appropriate regulator;
b
each relevant competent authority; and
c
so far as the plan is relevant to a significant branch which an institution within the relevant group has in another EEA State, the resolution authority established in that State.
6
A group resolution plan must not have a disproportionate impact on any EEA State.
7
For the purpose of drawing up a group resolution plan, so far as the plan is relevant to—
a
a subsidiary within the relevant group which is set up in a third country, or
b
an institution within the relevant group which has a significant branch in a third country,
the Bank may consult the authorities which, in the country concerned, exercise any function equivalent to a function of a resolution authority or competent authority.