The Financial Services and Markets Act 2023 (Resolution of Central Counterparties: Deferment of Provisions in Resolution Instruments) Regulations 2023
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Change 1
7 Review of decision to suspend
(1) The Bank must review each decision to suspend, or to suspend for a further period, a provision in a resolution instrument before the end of each review period. (2) A review period is— (a) in relation to the first review, the period of three months beginning with the date on which the suspension of the provision began as notified under regulation 6(2)(a)(iii), and (b) in relation to any subsequent reviews, the period of three months beginning with the day on which the previous review was completed. (3) Paragraph (1) applies until the suspension ends in accordance with these Regulations. (4) If, following a review, the Bank takes no action in respect of a suspended provision— (a) that provision remains suspended until the date on which the suspension will end, as specified in the notice given under regulation 6; (b) the Bank is not required to notify any person.
7 Review of decision to suspend
(1) The Bank must review each decision to suspend, or to suspend for a further period, a provision in a resolution instrument before the end of each review period. (2) A review period is— (a) in relation to the first review, the period of three months beginning with the date on which the suspension of the provision began as notified under regulation 6(2)(a)(iii), and (b) in relation to any subsequent reviews, the period of three months beginning with the day on which the previous review was completed. (3) Paragraph (1) applies until the suspension ends in accordance with these Regulations. (4) If, following a review, the Bank takes no action in respect of a suspended provision— (a) that provision remains suspended until the date on which the suspension will end, as specified in the notice given under regulation 6; (b) the Bank is not required to notify any person.
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