An entity that is being wound up under national law, following a determination that the entity is failing or is likely to fail and a conclusion by the Board that its resolution is not in the public interest, is ultimately heading towards market exit. In such cases a plan for resolving that entity is no longer needed, irrespective of whether the competent authority has already withdrawn the authorisation of that entity.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.
