(1) On receiving a communication from the competent authority pursuant to Regulation 143(3), the resolution authority shall determine, in accordance with Regulations 62(1) and 63, whether the conditions of those Regulations are met in respect of the institution or the entity concerned and whether or not to take resolution action in relation to the institution or entity concerned.
(2) Any decision made by the resolution authority under paragraph (1) shall contain the following information:
(a) the reasons for that decision, including the determination that the institution or the entity concerned meets or does not meet the conditions for resolution;
(b) the action that the resolution authority intends to take including, where appropriate, the decision to petition for the winding up of the institution or entity, an application to appoint an examiner or administrator, or any other insolvency measure.