(1) The UK parent undertaking may, within the response period beginning with the date on which it receives the Bank's report, submit to the Bank its observations on the report and a proposal to take alternative remedial measures ("alternative proposal").
(2) The Bank must send such observations and any alternative proposal to the appropriate regulator.
(a) confirm the impediments with or without modification;
(b) assess any alternative proposal; and
(c) determine remedial measures in the exercise of pre-resolution powers -
(i) where the Bank concludes that the measures set out in an alternative proposal would adequately address or effectively remove the impediments, by approving that proposal (with or without modification);
(ii) otherwise, by specifying the measures which are to be taken.
(4) [deleted]
(5) The Bank must consult the appropriate regulator and, where appropriate, the Financial Policy Committee before determining remedial measures under paragraph (3)(c)
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