- Enforced by
- PRA
- Status
- Amended (in force with amendments)
- Penalty ceiling
- Regulated
Does it bind you?
Business-side roles with duties under this instrument.
Plus 1 duty on the regulator, Crown ministers and public bodies — folded into the section list below.
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.
Part 1
Introductory provisions
0 of 3 sections shown3 other sections in this Part — procedural and definitional
s.art001
Citation and commencement
s.art002
Interpretation
s.art003
Application of Order
Part 2
Designation of authorities and competent ministry
0 of 3 sections shown3 other sections in this Part — procedural and definitional
s.art004
Designation of the Bank as resolution authority
s.art005
Designation for the purposes of Article 59 of the recovery and resolution directive
s.art006
Designation of the Treasury as the ministry responsible for exercising the functions of the competent ministry
Part 3
Recovery and resolution planning
0 of 4 sections shown4 other sections in this Part — procedural and definitional
s.art007
Recovery planning: preparatory steps and simplified obligations
s.art008
Resolution planning: preparatory steps and simplified obligations
s.art009
Consultation with the Financial Policy Committee
s.art010
Provision of information to EBA
Part 4
Recovery plans
0 of 25 sections shown25 other sections in this Part — procedural and definitional
s.art011
Application and interpretation of Chapter 1
s.art012
Assessment of plan
s.art013
Criteria for assessment
s.art014
Revision of plan
s.art015
Business changes and relevant measures
s.art016
Application and interpretation of Chapter 2
s.art017
Duty to transmit a copy of group recovery plan
s.art018
Assessment of group recovery plan
s.art019
Purpose of assessment
s.art020
Timing of assessment of plan
s.art021
Joint assessment of plan
s.art022
Revision of plan
s.art023
Business changes and relevant measures
s.art024
Recovery plan for group institution
s.art025
References to EBA
s.art026
Requesting the assistance of EBA
s.art027
Application and interpretation of Chapter 3
s.art028
Purpose of assessment
s.art029
Joint assessment of plan
s.art030
Assessment of recovery plans drawn up on an individual basis
s.art031
References to EBA
s.art032
Requesting the assistance of EBA
s.art033
Review of recovery plan
s.art034
Review of group recovery plan assessed under Chapter 2
s.art035
Review of group recovery plan assessed under Chapter 3
Part 5
Resolution plans
1 of 23 sections shown
s.art037
The Bank's duty to draw up resolution plans
Regulated
Other duties (1) — Crown / regulator
- Bank of England must draw up resolution plans for each relevant institutionStatutory regulator
22 other sections in this Part — procedural and definitional
s.art036
Interpretation of Chapter 1
s.art038
Duty to transmit a copy of the resolution plan
s.art039
Application of Chapter 2
s.art040
The Bank's duty to draw up group resolution plans
s.art041
Information to be transmitted for the purpose of drawing up group resolution plans
s.art042
Joint decision on adoption of group resolution plan
s.art043
References to EBA
s.art044
Requesting the assistance of EBA
s.art045
Duty to transmit a copy of the group resolution plan
s.art046
Application and interpretation of Chapter 3
s.art047
Joint decision on adoption of group resolution plan
s.art048
Failure to reach joint decision: disagreement by the Bank with a joint proposal
s.art049
Failure to reach joint decision: agreement by the Bank with a joint proposal
s.art050
Resolution plan for group entity
s.art051
References to EBA
s.art052
Requesting the assistance of EBA
s.art053
Review of resolution plan
s.art054
Review of group resolution plan drawn up by the Bank
s.art055
Review of group resolution plan drawn up by another resolution authority
s.art056
Information required for resolution planning
s.art057
Notice of matters which could necessitate an amendment of a plan
s.art058
Records of financial contracts
Part 6
Assessment of resolvability and removal of impediments to resolvability
0 of 25 sections shown25 other sections in this Part — procedural and definitional
s.art059
Application and interpretation of Chapter 1
s.art060
Assessment of resolvability
s.art061
Application and interpretation of Chapter 2
s.art062
Assessment of group resolvability where the PRA or FCA is the consolidating supervisor
s.art063
Assessment of group resolvability where neither the PRA nor the FCA is the consolidating supervisor
s.art064
Application and interpretation of Chapter 3
s.art065
Notice of determination
s.art066
Effect of notice of determination
s.art067
Right of appeal
s.art068
Application and interpretation of Chapter 4
s.art069
Report on substantive impediments to the resolvability of group entities
s.art070
Suspension of requirement to draw up or review group resolution plan
s.art071
Determining remedial measures
s.art072
Joint decision on impediments to group resolvability and remedial measures
s.art073
References to EBA
s.art074
Requesting the assistance of EBA
s.art075
Application and interpretation of Chapter 5
s.art075
Report on substantive impediments to the resolvability of group entities
s.art076
Suspension of requirement to draw up or review group resolution plan
s.art077
Determining remedial measures
s.art078
Joint decision on impediments to group resolvability and remedial measures
s.art079
Failure to reach joint decision: disagreement by the Bank with joint proposals
s.art080
Failure to reach joint decision: agreement by the Bank with joint proposals
s.art081
References to EBA
s.art082
Requesting the assistance of EBA
Part 7
Intra-group financial support
5 of 25 sections shown
s.art101
Interpretation of Chapter 4
amended 4 times
s.art102
Relevant notice from UK group entity: decision by the PRA or FCA
amended 3 times
s.art103
Duties of consolidating supervisor where financial support agreed, prohibited or restricted
amended 2 times
s.art104
Re-assessment of recovery plans by the PRA or FCA where it is not the consolidating supervisor
amended 1 time
s.art105
Requesting the assistance of EBA
amended 1 time
20 other sections in this Part — procedural and definitional
s.art083
Application and interpretation of Chapter 1
s.art084
Review of group financial support agreement and decision on authorisation
s.art085
Duty to transmit a copy of application
s.art086
Joint decision with other competent authorities
s.art087
References to EBA
s.art088
Requesting the assistance of EBA
s.art089
Duty to transmit a copy of authorised agreement
s.art090
Amendment of authorised agreement
s.art091
Application and interpretation of Chapter 2
s.art092
Review of group financial support agreement and decision on authorisation
s.art093
Joint decision with other competent authorities
s.art094
References to EBA
s.art095
Requesting the assistance of EBA
s.art096
Amendment of authorised agreement
s.art097
Interpretation of Chapter 3
s.art098
Requirement for approval of authorised agreement
s.art098
Publication of information concerning group financial support agreements
s.art099
Revocation of authorised agreement
s.art100
Obligation to provide annual report
s.art106
Reciprocal support
Part 8
Early intervention
12 of 14 sections shown
s.art107
Interpretation of Chapter 1
amended 7 times
s.art108
Notice that institution meets the conditions for early intervention
amended 3 times
s.art110
Application and interpretation of Chapter 2
amended 7 times
s.art111
Procedure for early intervention in respect of a UK group entity
amended 9 times
s.art112
Procedure for early intervention in respect of a non-UK group entity
amended 3 times
s.art113
Joint decisions about early intervention
amended 3 times
s.art114
References to EBA
amended 2 times
s.art115
Requesting the assistance of EBA
amended 2 times
s.art116
Application and interpretation of Chapter 3
amended 1 time
s.art117
Procedure for early intervention in respect of a UK group entity
amended 6 times
s.art118
Joint decisions about early intervention
amended 2 times
s.art120
Requesting the assistance of EBA
amended 1 time
2 other sections in this Part — procedural and definitional
s.art109
Deadline for compliance with measure for early intervention
s.art119
References to EBA
Part 9
Minimum requirement for own funds and eligible liabilities
20 of 28 sections shown
s.art121
Interpretation of Chapter 1
amended 4 times
s.art122
Duties of the Bank in relation to minimum requirement
amended 2 times
s.art123
Determination of minimum requirement
amended 11 times
s.art125
Application and interpretation of Chapter 2
amended 11 times
s.art126
Determination of minimum consolidated requirement
amended 15 times
s.art127
Joint determination
amended 2 times
s.art128
References to EBA: determination of minimum consolidated requirement
amended 2 times
s.art129
Review of minimum consolidated requirement
amended 2 times
s.art131
Joint determination of minimum consolidated requirement
amended 1 time
s.art133
Application and interpretation of Chapter 4
amended 3 times
s.art134
Duties of the Bank in relation to minimum requirement
amended 3 times
s.art135
Determination of minimum requirement
amended 5 times
s.art136
Joint determination of minimum requirements
amended 1 time
s.art137
References to EBA: determination of minimum requirement
amended 1 time
s.art138
Review of minimum requirements
amended 1 time
s.art139
Minimum requirement for other group entities set up in the United Kingdom
amended 4 times
s.art142
Determination of minimum requirement
amended 3 times
s.art146
Minimum requirement for other group entities set up in the United Kingdom
amended 1 time
s.art147
Waiver of application of Chapter 4 ...
amended 10 times
s.art148
Meeting minimum requirement through contractual bail-in instruments etc
amended 3 times
8 other sections in this Part — procedural and definitional
s.art124
Review of minimum requirement
s.art130
Application and interpretation of Chapter 3
s.art132
Review of minimum consolidated requirement
s.art140
Application and interpretation of Chapter 5
s.art141
Duties of the Bank in relation to minimum requirement
s.art143
Joint determination of minimum requirements
s.art144
References to EBA: determination of minimum requirement
s.art145
Review of minimum requirements
Part 10
Requirement to write down or convert capital instruments
4 of 5 sections shown
s.art149
Application and interpretation of Part
amended 4 times
s.art150
Determinations under section 6A and 81AA of the Banking Act 2009: preliminary steps for UK group entities
amended 6 times
s.art152
Determination that Case 2, 3, 4 or 5 is satisfied
amended 3 times
s.art153
Joint determination under Article 59(3)(c) of the recovery and resolution directive in relation to a non-UK group entity
amended 1 time
1 other section in this Part — procedural and definitional
s.art151
Regulator to take alternative measures
Part 11
Removal of procedural impediments to application of bail-in tool
2 of 3 sections shown
s.art154
Interpretation of Part
amended 3 times
s.art155
Requirement to increase or remove limit on share capital
amended 4 times
1 other section in this Part — procedural and definitional
s.art156
Removal of impediments to the conversion of liabilities into shares
Part 11
Contractual recognition of bail-in
0 of 1 section shown1 other section in this Part — procedural and definitional
s.art156
Contractual recognition of bail-in: technical standards
Part 12
Treatment of derivative contracts where bail-in option is applied
1 of 2 sections shown
s.art158
Liabilities arising from derivative contracts
amended 2 times
1 other section in this Part — procedural and definitional
s.art157
Application and interpretation of Part
Part 13
Preparation of business reorganisation plans after application of bail-in tool
12 of 22 sections shown
s.art159
Application and interpretation of Chapter 1
amended 5 times
s.art161
Purpose of assessment
amended 3 times
s.art163
Application and interpretation of Chapter 2
amended 5 times
s.art164
Assessment etc of business reorganisation plan
amended 1 time
s.art165
Application and interpretation of Chapter 3
amended 6 times
s.art166
Duty to transmit a copy of business reorganisation plan
amended 1 time
s.art167
Assessment of business reorganisation plan
amended 3 times
s.art168
Purpose of assessment
amended 3 times
s.art170
Joint assessment of plan
amended 1 time
s.art171
Revision of plan
amended 1 time
s.art173
References to EBA
amended 1 time
s.art174
Requesting the assistance of EBA
amended 1 time
10 other sections in this Part — procedural and definitional
s.art160
Assessment of business reorganisation plan
s.art162
Revision of plan
s.art169
Assessment of plan where every group entity is set up in the United Kingdom
s.art172
Assessment of business reorganisation plans drawn up on an individual basis
s.art175
Application and interpretation of Chapter 4
s.art176
Purpose of assessment
s.art177
Joint assessment of plan
s.art178
Assessment of business reorganisation plans drawn up on an individual basis
s.art179
References to EBA
s.art180
Requesting the assistance of EBA
Part 14
Procedural obligations where an undertaking is failing or likely to fail
3 of 5 sections shown
s.art181
Interpretation of Part
amended 5 times
s.art182
Matters to be notified by the regulator to the Bank
amended 2 times
s.art183
Notification that an undertaking is failing or likely to fail
amended 6 times
2 other sections in this Part — procedural and definitional
s.art184
Duty to send copy of share transfer instrument etc to members and creditors of institution
s.art184
Notifications under articles 182, 183 and 184
Part 15
Applications to the court in relation to resolution action
0 of 2 sections shown2 other sections in this Part — procedural and definitional
s.art185
Stay of legal proceedings
s.art186
Remedies on judicial review
Part 16
Cross-border group resolution
2 of 29 sections shown
s.art195
Application of Chapter 3
amended 1 time
s.art196
Establishment and functioning of a European resolution college
amended 3 times
27 other sections in this Part — procedural and definitional
s.art187
Principles for reaching decisions which may have an impact in two or more EEA States
s.art188
Information exchange
s.art189
Requirements for group resolution schemes
s.art190
Application of Chapter 2
s.art191
Duty to establish a resolution college
s.art192
Membership of resolution college
s.art193
Functioning of resolution college
s.art194
Use of an existing resolution college
s.art197
Recognition of third-country resolution action
s.art198
Use of an existing resolution college
s.art199
Application and interpretation of Chapter 4
s.art200
Assessment of impact of notified measures
s.art201
Joint decision on adoption of group resolution scheme
s.art202
Requesting the assistance of EBA
s.art203
Application Chapter 5
s.art204
Bank decision that group subsidiary meets the conditions for resolution
s.art205
Joint decision on adoption of group resolution scheme
s.art206
Failure to reach joint decision: disagreement by the Bank with joint proposals
s.art207
Requesting the assistance of EBA
s.art208
Application and interpretation of Chapter 6
s.art209
Bank decision that EEA parent undertaking meets the conditions for resolution
s.art210
Joint decision on adoption of group resolution scheme
s.art211
Requesting the assistance of EBA
s.art212
Application of Chapter 7
s.art213
Joint decision on adoption of group resolution scheme
s.art214
Failure to reach joint decision: disagreement by the Bank with joint proposals
s.art215
Requesting the assistance of EBA
Part 17
Modified application of company law to banks etc in resolution
6 of 6 sections shown
s.art216
Interpretation of Part
amended 4 times
s.art217
Shadow directorship
amended 3 times
s.art218
Modified application of legislation on cross-border mergers
amended 2 times
s.art219
Modified application of the Companies Act 2006 (disapplication of Takeover Rules)
amended 3 times
s.art220
Modified application of the Companies Act 2006 (disapplication of other requirements)
amended 4 times
s.art220
Modified application of the Companies Act 2006 (shareholders’ rights)
amended 4 times
Part 18
Treasury support for investment firms
0 of 1 section shown1 other section in this Part — procedural and definitional
s.art221
Investment firms to be treated as financial institutions
Part 19
Miscellaneous provisions
4 of 4 sections shown
s.art222
Continuity
amended 1 time
s.art223
Duty to co-operate
amended 1 time
s.art224
Non-binding co-operation arrangements in line with EBA framework arrangements
amended 1 time
s.art225
Duty to inform EBA of imposition of penalties
amended 1 time
Part 20
Amendments
0 of 1 section shown1 other section in this Part — procedural and definitional
s.art226
Amendments of primary and secondary legislation
Part 21
Review
1 of 1 section shown
s.art227
Review
amended 1 time
Schedules
Schedules
0 of 76 shown76 other schedules
s.sch001
Impediments to the effectiveness of resolution action
s.sch001
The context for resolution action
s.sch001
Application for the use of the Bank's facilities
s.sch001
Options for applying the resolution tools and exercising the resolution powers
s.sch002
The context for resolution action
s.sch002
Contents of group resolution plan
s.sch002
. . . . . . . . . ....
s.sch002
In this Schedule, “ group resolution ” means—
s.sch002a
In this Schedule, “ entity ” means in relation to...
s.sch002a
The additional information referred to in article 8(3)(a) is as...
s.sch002b
In this Schedule— (a) “ back-to-back transaction ” means a...
s.sch002b
The matters referred to in articles 60(2)(a) and 62(3)(a) are—...
s.sch003
Amendments of FSMA
s.sch003
Credit Institutions (Reorganisation and Winding up) Regulations 2004
s.sch003
Financial Services and Markets Act 2000 (Prescribed Financial Institutions) Order 2013
s.sch003
Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013
s.sch003
Capital Requirements Regulations 2013
s.sch003
Recovery plans
s.sch003
Rules about resolution packs: duty to consult
s.sch003
Special provision relating to adequacy of resolution plans
s.sch003
Recovery plans and resolution packs: restriction on duty of confidence
s.sch003
Amendment of the Financial Services (Banking Reform) Act 2013
s.sch003
Financial Markets and Insolvency (Settlement Finality) Regulations 1999
s.sch003
Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001
s.sch003
Financial Collateral Arrangements (No 2) Regulations 2003
s.sch004
In relation to a company under resolution, this Part modifies...
s.sch004
Section 311 (contents of notices of meetings) has effect as...
s.sch004
Part 13 has effect as if the following sections were...
s.sch004
Section 327 (notice required of appointment of proxy etc) has...
s.sch004
Section 330 (notice required of termination of proxy's authority) has...
s.sch004
Part 13 has effect as if section 333A (traded company:...
s.sch004
Section 334 (application to class meetings) has effect as if—...
s.sch004
Section 336 (public companies and traded companies: annual general meeting)...
s.sch004
Section 337 (public companies and traded companies: notice of AGM)...
s.sch004
Part 13 has effect as if the following sections were...
s.sch004
Section 341 (results of poll to be made available on...
s.sch004
Section 145 (effect of provisions of articles as to enjoyment...
s.sch004
Section 352 (application of provisions to class meetings) has effect...
s.sch004
Section 360 (computation of periods of notice etc: clear day...
s.sch004
Section 360A (electronic meetings and voting) has effect as if...
s.sch004
Part 13 has effect as if the following sections were...
s.sch004
In relation to a company under resolution, Part 27 of...
s.sch004
In relation to a company under resolution, this Part modifies...
s.sch004
Section 550 (power of directors to allot shares etc: private...
s.sch004
Section 551 (power of directors to allot shares etc: authorisation...
s.sch004
Part 17 (a company's share capital) has effect as if...
s.sch004
Section 569 (disapplication of pre-emption rights: private company with only...
s.sch004
Section 153 (exercise of rights where shares held on behalf...
s.sch004
Section 570 (disapplication of pre-emption rights: directors acting under general...
s.sch004
Section 571 (disapplication of pre-emption rights by special resolution) has...
s.sch004
Section 586 (public companies: shares must be at least one-quarter...
s.sch004
Section 593 (public company: valuation of non-cash consideration for shares)...
s.sch004
Section 617 (alteration of share capital of limited company) has...
s.sch004
Section 618 (sub-division or consolidation of shares) has effect—
s.sch004
Section 656 (public companies: duty of directors to call meeting...
s.sch004
Section 282 (ordinary resolutions) has effect as if, in subsection...
s.sch004
Section 283 (special resolutions) has effect as if, in subsection...
s.sch004
Section 284 (votes: general rules) has effect as if, in...
s.sch004
Section 303 (members' power to require directors to call general...
s.sch004
Section 307 (notice required of general meeting) has effect as...
s.sch004
Part 13 (resolutions and meetings) has effect as if section...
s.schedule a1 para.1
In this Schedule— (a) “ entity ” means, in relation...
s.schedule a1 para.10
The plan must provide evidence that the management body of...
s.schedule a1 para.11
The plan must include an appropriate framework of indicators established...
s.schedule a1 para.12
The indicators may be of a qualitative or quantitative nature...
s.schedule a1 para.13
The plan must provide details of appropriate arrangements which the...
s.schedule a1 para.14
An entity may— (a) take action under its plan where...
s.schedule a1 para.15
The entity must without delay notify the appropriate regulator of...
s.schedule a1 para.2
A plan must include— (a) a summary of its key...
s.schedule a1 para.3
The plan must provide for measures to be taken by...
s.schedule a1 para.4
In drawing up the plan the entity must not assume...
s.schedule a1 para.5
The plan must include, where applicable, an analysis of the...
s.schedule a1 para.6
The analysis must identify the assets of the entity which...
s.schedule a1 para.7
The plan must include possible measures which could be taken...
s.schedule a1 para.8
The plan must include appropriate conditions and procedures to ensure...
s.schedule a1 para.9
The plan must contemplate a range of scenarios of severe...
Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.