Regulation 41 Amendment of the Bank Recovery and Resolution (No.2) Order 2014

In article 72(1), for the words from “within four months” to the end substitute—

“in accordance with the following time limits—

(a)

if the EEA parent undertaking submits observations or an alternative proposal under article 71(1), within four months beginning with the date on which the observations or proposal are submitted;

(b)

if the EEA parent undertaking does not submit observations or an alternative proposal under article 71(1), within one month beginning with the end of the period referred to in that provision.”.