An institution or entity that is being wound up under national law, following a determination that the institution or entity is failing or is likely to fail and a conclusion by the resolution authority that its resolution is not in the public interest, is ultimately heading towards market exit. In such cases a plan for resolving that institution or entity is no longer needed, irrespective of whether the competent authority has already withdrawn the authorisation of that institution or entity. The same applies with regard to a residual institution under resolution after the transfer of assets, rights and liabilities in the context of a transfer strategy. It is therefore appropriate to specify that in such situations the adoption of resolution plans is not required.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
