Financial Services and Markets Act 2022 · s 54

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—(1) This section applies if the Authority is of the opinion that an impediment exists to the orderly resolution of a pertinent financial institution in accordance with a plan of the Authority under section 53.(2) The Authority may issue a direction to the pertinent financial institution, requiring the pertinent financial institution to take, within the time specified in the direction, measures specified in the direction for the purpose of addressing or removing the impediment.(3) Without limiting subsection (2), the direction may require the pertinent financial institution to make changes to its practices, organisation and structure (including its operational, legal and financial structures).
This section applies if the Authority is of the opinion that an impediment exists to the orderly resolution of a pertinent financial institution in accordance with a plan of the Authority under section 53.
The Authority may issue a direction to the pertinent financial institution, requiring the pertinent financial institution to take, within the time specified in the direction, measures specified in the direction for the purpose of addressing or removing the impediment.
Without limiting subsection (2), the direction may require the pertinent financial institution to make changes to its practices, organisation and structure (including its operational, legal and financial structures).

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s 54Power to direct removal of impediments

(1)

This section applies if the Authority is of the opinion that an impediment exists to the orderly resolution of a pertinent financial institution in accordance with a plan of the Authority under section 53.

(2)

The Authority may issue a direction to the pertinent financial institution, requiring the pertinent financial institution to take, within the time specified in the direction, measures specified in the direction for the purpose of addressing or removing the impediment.

(3)

Without limiting subsection (2), the direction may require the pertinent financial institution to make changes to its practices, organisation and structure (including its operational, legal and financial structures).