The Financial Services and Markets Act 2023 (Resolution of Central Counterparties: Deferment of Provisions in Resolution Instruments) Regulations 2023
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5 Consultation with the Treasury
(1) The Bank must consult the Treasury if any of the circumstances set out in paragraph (2) apply. (2) The circumstances are— (a) the Bank intends to suspend a provision in a resolution instrument; (b) the Bank intends to waive a provision in a resolution instrument; (c) the Bank has undertaken a review of a decision to suspend a provision in a resolution instrument in accordance with regulation 7 with no more than three months remaining until the end of the maximum period for that suspended provision, and intends to— (i) make a decision to suspend the provision for a further period under regulation 2(2); or (ii) take no further action in respect of the suspended provision.
5 Consultation with the Treasury
(1) The Bank must consult the Treasury if any of the circumstances set out in paragraph (2) apply. (2) The circumstances are— (a) the Bank intends to suspend a provision in a resolution instrument; (b) the Bank intends to waive a provision in a resolution instrument; (c) the Bank has undertaken a review of a decision to suspend a provision in a resolution instrument in accordance with regulation 7 with no more than three months remaining until the end of the maximum period for that suspended provision, and intends to— (i) make a decision to suspend the provision for a further period under regulation 2(2); or (ii) take no further action in respect of the suspended provision.
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