Assessment and approval of the business reorganisation plan

(1) Within one month of the submission of the business reorganisation plan, the resolution authority, in consultation with the supervisory authority, assesses the likelihood that the plan, if implemented, will ensure the continuation of the business of the institution or group entity. The resolution authority approves the business reorganisation plan where the resolution authority and the supervisory authority, in their assessment, are satisfied that implementing the plan will, in all likelihood, ensure the continuation of the business of the institution or group entity.
(2) Where the resolution authority, in agreement with the supervisory authority, is not satisfied that the business reorganisation plan can achieve the objective referred to in subsection (1), the resolution authority communicates its concerns to the management, or to the person appointed as special manager under section 87, and requires that the business reorganisation plan be amended accordingly.
(3) The management, or the special manager appointed under section 87, of the institution or group entity submits an amended business reorganisation plan for approval to the resolution authority within two weeks of receiving a notification under subsection (2). Within one week, the resolution authority assesses the amended business reorganisation plan and approves it, or informs the management, or the special manager appointed under section 87, of the institution or group entity whether the amended business reorganisation plan requires further amendment.