SCHEDULE 3Amendments

PART 1Amendments of FSMA

Recovery plans and resolution packs: restriction on duty of confidence5

1

Section 137N M1 (recovery plans and resolution plans: restriction on duty of confidence) is amended as follows.

2

For the words “resolution plan”, wherever they appear, substitute “ resolution pack ”.

3

In subsection (2) after “authorised person” insert “ or a qualifying parent undertaking ”.

4

In subsection (3)(a) and (b) for “that plan” substitute “ that plan or pack ”.

5

In subsection (5) after the definition of “authorised person” insert—

“qualifying parent undertaking” means—

  1. a

    a qualifying parent undertaking within the meaning given by section 192B; or

  2. b

    an undertaking which—

    1. i

      is a parent undertaking of an institution (within the meaning given in section 137J(6) M2) authorised in another EEA State; and

    2. ii

      would be a qualifying parent undertaking within the meaning given by section 192B if the institution were a qualifying authorised person within the meaning given by section 192A(1) M3.

6

Accordingly, in the heading for “resolution plans” substitute “ resolution packs ”.