SCHEDULE 3Amendments of the Bank Recovery and Resolution (No.2) Order 2014

37.

(1)

Article 62 (assessment of group resolvability where the PRA or FCA is the consolidating supervisor) is amended as follows.

(2)

In paragraph (3)—

(a)

in sub-paragraph (a) for the words from “Section C” to the end substitute “ Schedule 2B and in any technical standards under paragraph (2A); ”;

(b)

omit sub-paragraph (d)(ii) and (iii).

(3)

After paragraph (3) insert—

“(3A)

The Bank may make technical standards providing—

(a)

further examples of relevant matters to be considered; and

(b)

criteria to be examined,

for the purposes of making the assessment of group resolvability.”.

(4)

In paragraph (5)—

F1(a)

for “take resolution action in respect of resolution entities or”, substitute “apply the resolution tools or exercise resolution powers in respect of resolution entities, or take”;

(b)

for “any EEA State” substitute “ the United Kingdom ”.

(5)

Omit paragraphs (6) to (8).