Article 108 Notice that institution meets the conditions for early intervention
United Kingdom
The appropriate regulator must notify the Bank without delay if it determines that a relevant institution meets the conditions for early intervention F2or the appointment of a temporary manager.
The PRA and the FCA may each make technical standards relating to the circumstances in which a relevant institution may be taken as meeting the conditions for early intervention.
Annotations
Textual amendments
- F1
Art. 108 renumbered as art. 108(1) (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 61(1); 2020 c. 1, Sch. 5 para. 1(1)
- F2
Words in art. 108 inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 41(3)
- F3
Art. 108(2) inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 61(2); 2020 c. 1, Sch. 5 para. 1(1)
Notes on the whole SI
Textual amendments
- F1
Order revoked (14.12.2023 for the revocation of art. 227) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(x)