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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes
Version date: 2 July 2014 - onwards
Version 2 of 2

Article 41 Operation of a bridge institution

1. Member States shall ensure that the operation of a bridge institution respects the following requirements:

(a) the contents of the bridge institution's constitutional documents are approved by the resolution authority;

(b) subject to the bridge institution's ownership structure, the resolution authority either appoints or approves the bridge institution's management body;

(c) the resolution authority approves the remuneration of the members of the management body and determines their appropriate responsibilities;

(d) the resolution authority approves the strategy and risk profile of the bridge institution;

(e) the bridge institution is authorised in accordance with Directive 2013/36/EU or Directive 2014/65/EU, as applicable, and has the necessary authorisation under the applicable national law to carry out the activities or services that it acquires by virtue of a transfer made pursuant to Article 63 of this Directive;