Article 61 Application and interpretation of Chapter 2
United Kingdom
In this Chapter “assessment of group resolvability” means an assessment of the extent to which it would be feasible and credible to F3apply the resolution tools or exercise resolution powers in respect of resolution entities, or take insolvency proceedings in respect of group entities while avoiding to the maximum extent possible any significant adverse effect on the financial system of F4the United Kingdom or the continuity of the critical functions of group entities.
Annotations
Textual amendments
- F1
Words in art. 61(1)(a) 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. 36(2)(a); 2020 c. 1, Sch. 5 para. 1(1)
- F2
Art. 61(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. 36(2)(b); 2020 c. 1, Sch. 5 para. 1(1)
- F3
Words in art. 61(2) substituted (31.12.2020) by S.I. 2018/1394, Sch. 3 para. 36(3)(a) (as substituted by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 77(2))
- F4
Words in art. 61(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. 36(3)(b); 2020 c. 1, Sch. 5 para. 1(1)
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)