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There are currently no known outstanding effects for the The Bank Recovery and Resolution (No. 2) Order 2014, CHAPTER 3.
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130.—(1) This Chapter applies where neither the PRA nor the FCA is the consolidating supervisor in relation to a relevant group.
(2) In this Chapter “group entity” and “minimum consolidated requirement” have the same meaning for the relevant group as they have for a relevant group in Chapter 2.
131.—(1) The Bank must endeavour within the college to determine the minimum consolidated requirement jointly with the group-level resolution authority M1 and other resolution authorities for group entities.
(2) The Bank must endeavour to make that determination within four months beginning with the date on which the group-level resolution authority gives the Bank notice of its provisional determination of the minimum consolidated requirement.
(3) The Bank may, within that period, refer any matter relating to the prospective determination of the minimum consolidated requirement to EBA in accordance with Article 19 of the EBA Regulation.
Marginal Citations
M1For the meaning of “group-level resolution authority” see the recovery and resolution directive, Article 2.1, point (44).
132.—(1) This article applies where the group-level resolution authority reviews the group resolution plan.
(2) Article 131 applies for the purpose of reviewing the minimum consolidated requirement, but has effect for that purpose as if the reference to determining (and each reference to the determination of) the requirement were a reference to re-determining (or the re-determination of) the requirement on review.
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