# The Bank Recovery and Resolution (No. 2) Order 2014, Article 151: Regulator to take alternative measures


(1) Where, in the Bank's assessment, there is a reasonable prospect that an alternative measure which is available and could feasibly be taken would, within a reasonable time, avoid the need for the determination referred to in a Case 2, 4 or 5 notice or a Case 3 notice—
(a) the Bank must notify the regulator of that fact; and
(b) except where the measure is a transfer of funds from a parent undertaking, the regulator must take the alternative measure in exercise of its powers under FSMA.
(2) In this article “the regulator”—
(a) where there is a PRA-authorised person and any other UK authorised person in the relevant group, means the PRA and the FCA;
(b) where there is a PRA-authorised person and no other UK authorised person in the relevant group, means the PRA;
(c) where there is no PRA-authorised person in the relevant group, means the FCA.

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Source: https://www.legislation.gov.uk/uksi/2014/3348/article/151 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-151
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.