(1) Where, in the Bank's assessment, there is a reasonable prospect that an alternative measure which is available and could feasibly be taken would, within a reasonable time, avoid the need for the determination referred to in a Case 2, 4 or 5 notice or a Case 3 notice -
(a) the Bank must notify the regulator of that fact; and
(b) except where the measure is a transfer of funds from a parent undertaking, the regulator must take the alternative measure in exercise of its powers under FSMA.
(2) In this article "the regulator" -
(a) where there is a PRA-authorised person and any other UK authorised person in the relevant group, means the PRA and the FCA, (b) where there is a PRA-authorised person and no other UK authorised person in the relevant group, means the PRA; (c) where there is no PRA-authorised person in the relevant group, means the FCA.