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  1. Point in time
    2024-12-18

Article 46 Notification by the management body to a competent authority

  1. (1)

    The notifications submitted by the management body of a recovery and resolution entity to a competent authority, shall include:

    1. (a)

      the name, the address of the registered office and, where available, the legal entity identifier of the recovery and resolution entity sending the notification;

    2. (b)

      the name and address of the registered office of the immediate and ultimate parent undertaking of that recovery and resolution entity, where relevant;

    3. (c)

      the relevant information and analyses that the management body took into account when performing the assessment for determining that the conditions section 7(2) of the Banking Act 2009 have been met;

    4. (d)

      a copy of the management body's written resolution confirming its assessment that the recovery and resolution entity is failing or likely to fail;

    5. (e)

      any additional information that the management body considers relevant to its assessment.

  2. (2)

    The notification pursuant to article 181 of the Bank Recovery and Resolution (No.2) Order 2014 and rules 8.2 and 8.3 of the Notifications Part of the PRA Rulebook shall be communicated immediately to the competent authority following the decision by the management body of a recovery and resolution entity that that entity is failing or likely to fail.