(1) Before any disclosure is made of recovery and resolution information the person disclosing that information must -

(a) assess the possible effects of disclosing the information in question on -

(i) the public interest in relation to financial, monetary or economic policy;

(ii) the commercial interests of natural and legal persons;

(iii) the purpose of any investigation, inspection or audit to which the information is relevant; and

(b) where the information in question relates to the recovery plan or resolution plan of any undertaking, assess the effects of the disclosure of any part of that recovery plan or resolution plan.

(2) In this regulation -

recovery plan" means a recovery plan or a group recovery plan as those terms are defined in the Bank Recovery and Resolution (No.2) Order 2014 ("the 2014 Order") or in paragraph 2 of Schedule 11 to the Financial Services and Markets Act 2023; and