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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
Version 3 of 3

Article 16 Application and interpretation of Chapter 2

(1) This Chapter applies where, in relation to a relevant group -

(a) the PRA or FCA is the consolidating supervisor; and

(b) a group entity submits a group recovery plan to the appropriate regulator for assessment.

(2) In this Chapter -

"business changes" means changes to the business of a group institution which would be made with the object of addressing an impediment;

"four month period" means four months beginning with the date on which the appropriate regulator transmits a copy of the group recovery plan under article 17;

"group institution" means - (a) the UK parent undertaking, if it is an institution; (b) a group subsidiary which is an institution;