(1) Each recovery plan or group recovery plan shall include a framework of indicators established by the institution or group that identify the points at which appropriate actions referred to in the plan may be taken.
(2) Each institution or group shall put in place appropriate arrangements for the regular monitoring of the framework of indicators referred to in paragraph (1).
(3) The framework of indicators referred to in paragraph (1) -
(a) shall be reviewed and assessed by the competent authority as part of the assessment of the recovery plan in accordance with Regulations 13 and 15,
(b) shall be capable of being monitored easily, and
(c) may include indicators of a qualitative or quantitative nature relating to the financial position of the institution or group.
(4) Notwithstanding paragraphs (1) to (3), an institution or group may -
(a) take action under its recovery plan where the relevant indicator has not been met but where the management body of the institution or group consid
…