Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Article 31 Assessment of feasibility: other potential impediments

The following legal issues shall be considered in assessing potential impediments to resolution:

  1. (1)

    whether requirements for regulatory approvals or authorisations necessary to deliver the resolution strategy can be met in a timely manner;

  2. (2)

    whether significant contractual documentation permits termination of contracts on entry into resolution;

  3. (3)

    whether contractual obligations which cannot be disapplied by the resolution authority prohibit any transfer of assets and/or liabilities envisaged in the resolution strategy.