# The Bank Recovery and Resolution (No. 2) Order 2014, Article 171: Revision of plan


The Bank—
(a) must notify a ... group entity if the business reorganisation plan is found on assessment to contain an impediment; and
(b) may not require a ... group entity to revise the plan without giving it an opportunity to state its opinion on that requirement.
(2) If the Bank requires a ... group entity to revise the plan, the Bank—
(a) must allow two weeks for the preparation of a plan which demonstrates that the impediment has been addressed;
(b) within one week beginning with the date on which a revised plan is submitted, must notify the entity whether the impediment has been adequately addressed in the revised plan; and
(c) if the impediment has not been adequately addressed in the revised plan, must direct the entity to make specific changes to the plan.

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Source: https://www.legislation.gov.uk/uksi/2014/3348/article/171 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-171
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.