Application provision

1.1 Unless otherwise stated, this Part applies to a BRRD undertaking which is a CRR firm, a financial holding company, a mixed financial holding company or a mixed activity holding company

5.1

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A BRRD undertaking that intends to provide financial support in accordance with a group financial support agreement must ensure that the decision to provide financial support is taken by its management body.

5.2

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The decision must be reasoned and indicate the objective of the proposed financial support; in particular, the decision must indicate how the provision of the financial support complies with the conditions in 4.1.

5.3

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A firm that intends to accept financial support in accordance with a group financial support agreement must ensure that the decision to accept financial support is taken by its management body.

Additional Notes


[Note: Art. 24 of the BRRD]