(1) The management body of an institution or entity referred to in Regulation 2(1)(b) to (i) (in this Regulation referred to as the "notifying institution or entity") shall notify the competent authority in writing where it considers that the institution or entity is failing or likely to fail, within the meaning specified in Regulation 62(3).
(2) The competent authority, on receipt of a notification under paragraph (1), shall inform the resolution authority of the following:
(a) the fact of notification received under paragraph (1);
(b) any crisis prevention measures taken by the competent authority;
(c) any action referred to in Regulation 92 of the Capital Requirements Regulations which the competent authority requires the institution or entity concerned to take.
(3) Where the competent authority following a notification under paragraph (1) or on its own initiative, in relation to an institution or entity referred to Regulation 2(1)(b) to (i) -
(a) determines after consultation with
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