[57B Duty of Bank to inform Treasury about resolution plans]
Financial Services Act 2012 (2012 c 21) | Legislation

[57B  Duty of Bank to inform Treasury about resolution plans]

[(1)     This section applies in relation to—

(a)     a resolution plan which includes one or more options for the exercise of a stabilisation power by the Bank of England in relation to an institution (“the institution”), and

(b)     a group resolution plan which includes one or more options for the exercise of a stabilisation power by the Bank of England in relation to a group entity (“the entity”).

(2)     Unless otherwise directed under subsection (5), before adopting the plan the Bank must provide the Treasury with—

(a)     a copy of the plan,

[(b)     the Bank's assessment of the risk that the failing of the institution or entity would pose to the stability of the financial system in

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