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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 28 December 2020 - onwards
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Regulation 80M Breaches of the minimum requirement for own funds and eligible liabilities.

(1) Any breach of the minimum requirement for own funds and eligible liabilities referred to in Regulation 80G or 80H shall be addressed by the resolution authority or the competent authority, as the case may be, through the use of at least one of the following:

(a) powers to address or remove impediments to resolvability in accordance with Regulations 28 and 29;

(b) powers referred to in Regulation 27A;

(c) measures referred to in Regulation 92 of the Capital Requirements Regulations;

(d) early intervention measures in accordance with Regulation 39;

(e) administrative penalties and other administrative measures in accordance with Part IIIC of the Act of 1942 or Regulation 174, as the case may be.

(2) The competent authority may also carry out an assessment of whether the institution or entity referred to in Regulation 2(1)(b) to (i) is failing or is likely to fail, in accordance with Regulation 62, 62a or 63, as applicable.

(3) The resolution authority and competent authority, when ex

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