(1) Within one month of the application of the bail-in tool to an institution under resolution -
(a) the management body of the institution under resolution, or
(b) the special manager,
as the case may be, shall draw up and submit to the resolution authority, a business reorganisation plan that satisfies the requirements of paragraphs (7) to (9).
(2) Where the Union State aid framework applies, that business reorganisation plan must be compatible with the restructuring plan that the institution under resolution is required to submit to the European Commission under the Union State aid framework.
(3) When the bail-in tool is applied for the purpose referred to in Regulation 79(1)(a) to 2 or more group entities and the Union parent institution is authorised in the State, the business reorganisation plan shall be prepared by the Union parent institution and cover all of the institutions in the group in accordance with the procedure specified in Regulations 14 and 15.
(4) The Union parent
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