PART 5Resolution plans
CHAPTER 5Information and records for resolution planning
Records of financial contracts58
1
The Bank may give directions to a relevant person in relation to maintaining detailed records of financial contracts39 to which the relevant person is a party.
2
A “relevant person” is—
a
an institution authorised by the PRA or FCA; or
b
an undertaking set up in the United Kingdom which is a subsidiary of an institution authorised by the PRA or FCA or in another EEA State; or
c
the EEA parent undertaking.
3
A direction given by the Bank may—
a
require records of financial contracts to be maintained;
b
specify the details or kinds of detail which are to be recorded;
c
require records of financial contracts to be produced at the request of the Bank;
d
specify a period of time within which a relevant person is to be capable of producing records (“a time-limit”);
e
specify different time-limits for different kinds of financial contract.
4
Directions may be given with general effect or with respect to a particular relevant person or class of relevant persons, but may not specify different time-limits for different relevant persons or classes of relevant person.