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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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Article 29 Joint assessment of plan

Omitted from 31 December 2020

(1) The appropriate regulator must assess the group recovery plan jointly with other relevant competent authorities and the consolidating supervisor and in consultation with EBA.

(2) The appropriate regulator must endeavour to conclude the assessment within the four month period, and must for this purpose endeavour to reach a joint decision on relevant matters.

(3) Where the appropriate regulator concludes a joint assessment of the group recovery plan, it must exercise its powers under FSMA, so far as necessary, for the purpose of implementing a joint decision on relevant matters, including a decision to direct a UK group entity to -

(a) submit a revision of the plan;

(b) propose business changes; or

(c) take relevant measures.

(4) Where the appropriate regulator and the consolidating supervisor -

(a) are able to conclude a joint assessment of the group recovery plan, but

(b) are unable to reach a joint decision on whether to require group institutions to draw up and submit recove

Comparing proposed amendment...