7
Provision and Notification of Group Financial Support
7.1
A BRRD undertaking may only provide financial support in accordance with a group financial support agreement if:
- (1) the PRA has not, within five business days from the date of receipt by the PRA of the complete notification in 6.1, prohibited the provision of the financial support;
- (2) the PRA has agreed to the provision of the proposed financial support; or
- (3) the PRA has agreed to the provision of financial support subject to restrictions.
- 19/01/2015
7.2
Where the PRA has agreed to the provision of financial support subject to restrictions, a BRRD undertaking may only provide financial support in accordance with those restrictions.
[Note: Art. 25(5) of the BRRD]
- 19/01/2015
7.3
Where the management body of a BRRD undertaking decides to provide the financial support, that BRRD undertaking must notify:
- (1) the PRA;
- (2) where different from the authorities in (1) and (3), where applicable, the EEA consolidating supervisor;
- (3) where different from (1) and (2), the competent authority of the group member receiving the financial support; and
- (4) the EBA.
[Note: Art. 25(6) of the BRRD]
- 19/01/2015