Paragraph 1 Impediments to the effectiveness of resolution action
United Kingdom
A resolution plan must—
identify and assess any material impediments to the effectiveness of F1the application of resolution tools or the exercise of resolution powers or the achievement of the resolution objectives; and
unless the Bank determines that it is unnecessary or disproportionate, outline action that could be taken to address the impediments in accordance with F2Part 6.
Annotations
Textual amendments
- F1
Words in Sch. 1 para. 1(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. 117(2)(a); 2020 c. 1, Sch. 5 para. 1(1)
- F2
Words in Sch. 1 para. 1(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. 117(2)(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)