[48H Business reorganisation plans]
Banking Act 2009 (2009 c 1) | Legislation

[48H  Business reorganisation plans]

[(1)     A resolution instrument may require a [resolution administrator], or one or more directors of the bank, to—

(a)     draw up a business reorganisation plan with respect to the bank, . . .

(b)     submit it to the Bank of England within the period allowed by (or under) the instrument[; and

(c)     submit to the Bank of England progress reports on the implementation of the plan at such intervals as the instrument may require].

(2)     “Business reorganisation plan” means a plan that includes—

(a)     an assessment of the factors that caused Condition 1 in section 7 to be met in the case of the bank,

(b)     a description of the measures to be adopted

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