Article 71
Decision of the resolution authority
1. After a notification from the competent authority pursuant to Article 70(3), the resolution authority shall determine whether any resolution action is needed.
2. The decision whether or not to take resolution action in relation to a CCP shall contain information on the following:
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(a) |
the resolution authority’s assessment of whether the CCP meets the conditions for resolution; and |
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(b) |
any action that the resolution authority intends to take, including the decision to apply for winding up, the appointment of an administrator or any other measure under applicable normal insolvency proceedings. |