{
  "url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-54",
  "json_url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-54.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/54",
  "kind": "article",
  "number": "54",
  "heading": "Review of group resolution plan drawn up by the Bank",
  "text": "(1) The Bank must review a group resolution plan at least—\n(a) once a year; or\n(b) if the Bank has made a determination under article 8(5), at the intervals determined.\n(2) The Bank must—\n(a) review a group resolution plan where any material change has been made to the legal or organisational structure of the relevant group or any group entity or to its business or financial position; and\n(b) make appropriate amendments if such a change could have a material impact on the effectiveness of the plan or necessitate amendment for any other reason.\n(3) For the purposes of a review of a group resolution plan the Bank may make a determination under article 8(3).\n(4) The Bank must review a group resolution plan and adopt the up-dated plan in accordance with Chapter 2.\n(5) For the purposes of this article Part 3 and Chapter 2 have effect with the modifications specified in the table—\nArticle\nModification\nArticle 8\nIn paragraph (3) the reference to a group resolution plan is a reference to the up-dated plan.\nArticle 40\nIn paragraphs (1) and (2) for “draw up and adopt a” read “review the”.\nIn paragraph (3)—\n(a)the reference to a group resolution plan is a reference to the up-dated plan; and\n(b)for “be drawn up” read “the review must be undertaken”.\nIn paragraph (4) for “drawn up” read “reviewed”.\nIn paragraphs (5) and (7) for “drawing up a” read “reviewing the”.\nArticle 41\n...\nArticle 45\nThe reference to a group resolution plan is a reference to the up-dated plan.\n(6) In this article—\n“group resolution plan” means a plan adopted by the Bank under Chapter 2; and\n“up-dated plan”, in relation to a group resolution plan, means that plan as reviewed in accordance with this article (whether or not it has been amended on review).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in art. 54(5) 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. 31(a); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in art. 54(5) 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. 31(b)(i); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in art. 54(5) 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. 31(b)(ii); 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/54",
    "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."
}