Section 62C Resolution administrator: further functionsF1

(1)

An appointment instrument or a Part 1 instrument may—

(a)

authorise a resolution administrator to manage the bank’s business (or confer on a resolution administrator any other power with respect to the management of the bank’s business);

(b)

authorise a resolution administrator to exercise any other powers of the bank;

(c)

confer on a resolution administrator any other power the Bank of England may consider appropriate;

(d)

provide that the exercise of any power conferred by the instrument in accordance with this section is to be subject to conditions specified in the instrument.

(2)

An appointment instrument or a Part 1 instrument may require a resolution administrator to make reports to the Bank of England—

(a)

on any matter specified in the instrument, and

(b)

at the times or intervals specified in the instrument.

(3)

If an instrument specifies a matter in accordance with subsection (2)(a), it may provide for further requirements as to the contents of the report on that matter to be specified in an agreement between the Bank of England and the resolution administrator.

(4)

An appointment instrument or a Part 1 instrument may—

(a)

require a resolution administrator to consult specified persons before exercising specified functions (and may specify particular matters on which the specified person must be consulted);

(b)

provide that a resolution administrator is not to exercise specified functions without the consent of a specified person.