Retained EU Law SI 2016/1075 United Kingdom

Commission Delegated Regulation (EU) 2016/1075 of 23 March 2016 supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the content of recovery plans, resolution plans and group resolution plans, the minimum criteria that the competent authority is to assess as regards recovery plans and group recovery plans, the conditions for group financial support, the requirements for independent valuers, the contractual recognition of write-down and conversion powers, the procedures and contents of notification requirements and of notice of suspension and the operational functioning of the resolution colleges (Text with EEA relevance)

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Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person4 Director or Officer1

Other Acts binding the same actors

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Any Person — also bound by 2340 other Acts
Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art039 Qualifications, experience, ability, knowledge and resources Regulated
  • Independent valuer must be qualified, resourced and independentAny Person
s.art040 Structural separation Regulated
  • Choose an independent valuer who is separate from any public authority or the relevant entityAny Person
s.art041 Material common or conflicting interests Regulated
  • Independent valuers must avoid conflicts of interest and notify appointing authorityAny Person
s.art046 Notification by the management body to a competent authority Regulated
  • Notify competent authority if your institution is failing or likely to failDirector or Officer
s.art064 Information from the Union parent undertaking Regulated
  • Provide requested information to the resolution authority within the specified time limitAny Person
105 other provisions — procedural and definitional
s.art001 Subject matter
s.art002 Definitions
s.art003 Information to be included in a recovery plan
s.art004 Summary of the key elements of the recovery plan
s.art005 Governance
s.art006 Strategic analysis
s.art007 The description of entities covered by the recovery plan
s.art008 Recovery options
s.art009 Actions, arrangements and measures under recovery options
s.art010 Impact assessment
s.art011 Feasibility assessment
s.art012 Continuity of operations
s.art013 Cross references
s.art014 Communication and disclosure plan
s.art015 Preparatory measures
s.art016 Completeness of recovery plans
s.art017 Quality of recovery plans
s.art018 Implementation of the arrangements proposed in the recovery plans
s.art019 Recovery options
s.art020 Specific requirements for group recovery plans
s.art021 Nature of the entity or entities being assessed
s.art022 Categories of information to be included in resolution plans
s.art023 Stages of assessment
s.art024 Feasibility and credibility of liquidation under normal insolvency proceedings
s.art025 Identification of a resolution strategy
s.art026 Assessment of feasibility of a resolution strategy
s.art027 Assessment of feasibility: structure and operations
s.art028 Assessment of feasibility: financial resources
s.art029 Assessment of feasibility: information
s.art030 Assessment of feasibility: cross-border issues
s.art031 Assessment of feasibility: other potential impediments
s.art032 Assessment of credibility of a resolution strategy
s.art033 Prospect to redress financial difficulties
s.art034 Terms of the support
s.art035 Liquidity and solvency of the providing entity
s.art036 Resolvability of the providing entity
s.art037 Definitions
s.art038 Elements of independence
s.art042 Definitions
s.art043 Liabilities to which the exclusion from the obligation to include the contractual term referred to in Article 55(1) of Directive 2014/59/EU applies
s.art044 Contents of the contractual term required by Article 55(1) of Directive 2014/59/EU
s.art045 General requirements for notifications
s.art047 Communication of the competent authority to the resolution authority of the received notification
s.art048 Notification of assessment that an institution meets the conditions for resolution set out in points (a) and (b) of Article 32(1) of Directive 2014/59/EU
s.art049 Notice
s.art050 Mapping and identification of resolution college members and possible observers
s.art051 Third country resolution authorities as observers in the resolution college
s.art052 Communication with the Union parent undertaking
s.art053 Establishment and update of contact lists
s.art054 Elements of written arrangements and procedures for the functioning of the resolution college
s.art055 Establishment and update of written arrangements and procedures for the functioning of the resolution college
s.art056 Operational aspects of college meetings and other activities
s.art057 Exchange of information
s.art058 Communication policy
s.art059 Coordination of external communication
s.art060 Emergency situations
s.art061 Planning of the steps of the joint decision process
s.art062 Elements of the joint decision timetable
s.art063 Preliminary dialogue on the resolution strategy
s.art065 Transmission of information from the group-level resolution authority
s.art066 Development and circulation of the draft group resolution plan and resolvability assessment
s.art067 Consultation with resolution college members
s.art068 Discussion with the Union parent undertaking
s.art069 Dialogue on the draft resolution plan and resolvability assessment
s.art070 Drafting the joint decision on group resolution plan and resolvability assessment
s.art071 Reaching joint decision on the group resolution plan and resolvability assessment
s.art072 Communication of the joint decision and summary of the group resolution plan to the Union parent undertaking
s.art073 Partial disagreement
s.art074 Elements of communication of individual decisions
s.art075 Communication of individual decisions in the absence of a joint decision
s.art076 Suspension of the joint decision process on the group resolution plan and resolvability assessment
s.art077 Planning of the steps of the joint decision process on measures to address substantive impediments to resolvability
s.art078 Consultation and communication of the report
s.art079 Submission of observations of the Union parent undertaking and consultation with the authorities
s.art080 Drafting the joint decision on measures to address substantive impediments to resolvability
s.art081 Reaching the joint decision
s.art082 Communication of the joint decision
s.art083 Monitoring the application of the joint decision
s.art084 Elements of communication of individual decisions
s.art085 Communication of individual decisions in the absence of joint decision
s.art086 Planning of the joint decision on minimum requirements for own funds and eligible liabilities
s.art087 Proposal at consolidated and Union parent undertaking level
s.art088 Proposal at subsidiary level
s.art089 Dialogue on the proposed minimum requirements for own funds and eligible liabilities
s.art090 Drafting the joint decision on minimum requirements for own funds and eligible liabilities
s.art091 Reaching the joint decision on minimum requirements for own funds and eligible liabilities
s.art092 Communication of the joint decision on minimum requirements for own funds and eligible liabilities
s.art093 Monitoring the application of the joint decision on minimum requirements for own funds and eligible liabilities
s.art094 Joint decisions taken at each subsidiary level in the absence of a joint decision at consolidated level
s.art095 Elements of communication of individual decisions
s.art096 Communication of individual decisions in the absence of joint decision
s.art097 Process for deciding on the need for a group resolution scheme
s.art098 Dialogue on the need for a group resolution scheme
s.art099 Preparation and communication of the draft assessment or draft decision on the need for a group resolution scheme
s.art100 Consultation on the draft assessment or decision on the need for a group resolution scheme
s.art101 Finalisation of the assessment or the decision on the need for a group resolution scheme
s.art102 Process of the joint decision on the group resolution scheme
s.art103 Preparation and communication of the draft group resolution scheme
s.art104 Consultation on the group resolution scheme
s.art105 Preparation and communication of the joint decision on the group resolution scheme
s.art106 Finalising the joint decision on the group resolution scheme
s.art107 Communication of the joint decision to the college
s.art108 Notification in case of disagreement
s.art109 Decision-making process between non-disagreeing resolution authorities
s.art110 Entry into force

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