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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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57B. Duty of Bank to inform Treasury about resolution plans

(1) This section applies in relation to -

(a) a resolution plan which includes one or more options for the exercise of a stabilisation power by the Bank of England in relation to an institution ("the institution"), and

(b) a group resolution plan which includes one or more options for the exercise of a stabilisation power by the Bank of England in relation to a group entity ("the entity").

(2) Unless otherwise directed under subsection (5), before adopting the plan the Bank must provide the Treasury with -

(a) a copy of the plan,

(b) the Bank's assessment of the risk that the failing of the institution or entity would pose to the stability of the financial system in the United Kingdom,

(c) the Bank's assessment of the implications for public funds -

(i) of the exercise by the Bank of a stabilisation power in relation to the institution or the entity in accordance with the option (or each of the options) for the exercise of such a power included in the plan, and

(ii) if the plan include

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