Paragraph 3 Rules about resolution packs: duty to consult

(1)

Section 137K M1 (PRA rules about resolution plans: duty to consult) is amended as follows.

(2)

In subsection (1)—

(a)

for the words “the PRA”—

(i)

where they first appear, substitute “either regulator”;

(ii)

where they appear after “resolution plan,”, substitute “ the regulator ”; and

(b)

for the word “each”, in both places where it appears, substitute “ a ”.

(3)

In subsections (1) and (3) for “resolution plan” substitute “ resolution pack ”.

(4)

For subsection (2) substitute—

“(2)
“Relevant person” has the same meaning as in section 137J(2).”.

(5)

After subsection (6) insert—

“(7)
In this section “authorised person”, in relation to the PRA, means PRA-authorised person.”.

(6)

Accordingly, for the heading substitute “ Rules about resolution packs: duty to consult ”.

Annotations

M1: Section 137K was substituted by the Financial Services Act 2012, section 24(1).

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)