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.

Notification of assessment that an institution meets the conditions for resolution set out in sections 7(2) and 7(3) of the Banking Act 2009

  1. (1)

    The notification of a competent authority or resolution authority for the purposes of article 183 of the Bank Recovery and Resolution (No.2) Order 2014 shall include:

    1. (a)

      the name of the recovery and resolution entity to which the notification relates;

    2. (b)

      the information set out in points (a) and (b) of Article 46(1);

    3. (c)

      a summary of the assessment required in sections 7(2) and 7(3) of the Banking Act 2009.

  2. (2)

    The notification shall be made without delay following a determination that the conditions referred to in sections 7(2) and 7(3) of the Banking Act 2009 have been met.

  3. (3)

    The competent authority shall, without delay, provide the resolution authority with any additional information that the resolution authority may request in order to complete its assessment.