Article 182 Matters to be notified by the regulator to the Bank

The regulator must notify the Bank if—

(a)

an undertaking notifies the regulator that the undertaking is failing or likely to fail (within the meaning given in F1section 7(5C) of the Banking Act 2009); or

(b)

the regulator requires an undertaking to take crisis prevention measures M1 or a F2supervisory measure.

Annotations

Textual amendments

F1: Words in art. 182(a) 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. 104(2); 2020 c. 1, Sch. 5 para. 1(1)
F2: Words in art. 182(b) 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. 104(3); 2020 c. 1, Sch. 5 para. 1(1)

Marginal citations

M1: For the meaning of “crisis prevention measures” see the recovery and resolution directive, Article 2.1, point (101).

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)