(1) The competent authority may apply simplified recovery planning obligations to an institution following an assessment pursuant to paragraph (2).
(2) The competent authority having had regard to -
(a) the impact that the failure of an institution could have, due to the nature of its business,
(b) whether failure and subsequent winding up of an institution under normal insolvency proceedings would be likely to have a significant negative effect on financial markets, on other institutions, on funding conditions or on the wider economy, and
(c) the matters mentioned in paragraph (5),
shall, with respect to the institution concerned, determine the following:
(i) the contents and details of recovery plans provided for in Regulations 11 to 16;
(ii) the date by which the first recovery plan is to be drawn up and the frequency for updating recovery plans, which may be less frequent than that provided for in Regulation 11(2);
(iii) the contents and details of the information required from the
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