{
  "url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-16",
  "json_url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-16.json",
  "legislation": "uksi/2014/3348",
  "legislation_title": "The Bank Recovery and Resolution (No. 2) Order 2014",
  "legislation_url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014",
  "path": "article/16",
  "kind": "article",
  "number": "16",
  "heading": "Application and interpretation of Chapter 2",
  "text": "(1) This Chapter applies where, in relation to a relevant group—\n(a) the PRA or FCA is the consolidating supervisor; and\n(b) a group entity submits a group recovery plan to the appropriate regulator for assessment ....\n(2) In this Chapter—\n“business changes” means changes to the business of a group institution which would be made with the object of addressing an impediment;\n“four month period” means four months beginning with the date on which the appropriate regulator transmits a copy of the group recovery plan under article 17;\n“group institution” means—\n(a)the UK parent undertaking, if it is an institution;\n(b)a group subsidiary which is an institution;\n“impediment”, in relation to the group recovery plan, means any material deficiency or measure in the plan which would impede its implementation;\n“relevant matters”, in relation to the assessment of the group recovery plan, means the following matters for decision—\n(c)whether the plan meets the criteria for assessment;\n(d)whether group institutions should be required to draw up and submit recovery plans on an individual basis;\n(e)whether the plan contains an impediment;\n(f)whether a group entity should be required to revise the plan;\n(g)whether an impediment has been adequately addressed in a revision of the plan;\n(h)where an impediment has not been adequately addressed in a revision of the plan, whether it can be adequately addressed by directing a group entity to make specific changes to the plan; and\n(i)where an impediment cannot be adequately addressed by specific changes to the plan or by business changes—\n(i)whether a group entity should be directed to take relevant measures; and\n(ii)the terms of any direction to take relevant measures;\n“relevant measures” means measures to maintain or restore the viability and financial position of a group institution, including measures to—\n(a)reduce the institution's risk profile, including its liquidity risk profile;\n(b)review its structure and strategy;\n(c)enable it to undertake timely recapitalisation;\n(d)change its funding strategy in order to improve the resilience of core business lines and critical functions; or\n(e)change its governance structure; and\n...",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in art. 16(1)(b) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 10(2); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in art. 16(2) substituted (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. 10(3)(a); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in art. 16(2) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 10(3)(b); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/3348/article/16",
    "retrieved_at": "2026-10-28T23:53:03.627932+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}