[137J Rules about recovery plans: duty to consult]
[137J Rules about recovery plans: duty to consult]

[(1)     Before either regulator prepares a draft of any general rules that require [a] relevant person (or [a] relevant person of a specified description) to prepare a recovery plan, the regulator must consult [the Treasury].

[(1A)     The FCA must also consult the Bank of England.]

[(2)     “Relevant person” means—

(a)     an institution authorised in the UK; or

(b)     a qualifying parent undertaking within the meaning given by section 192B.

(3)     A “recovery plan” is a document which provides for measures to be taken—