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



The changes to this rule are effective from 23:00 on 31/12/2020.

A BRRD undertaking that intends to provide financial support in accordance with a group financial support agreement must ensure that its management body notifies:

  1. (1) the PRA;
  2. (2) the FCA where it is the consolidating supervisor.
  3. (3) [deleted.]
  4. (4) [deleted.]

before it provides that financial support.



The notification must include the reasoned decision of the management body and details of the proposed financial support including a copy of the group financial support agreement.

Additional Notes

[Note: Art. 25(1) of the BRRD]