Special requirements for the design of group recovery plans; individual recovery plan

(1) A superordinate undertaking that is an EU parent undertaking, and for which the supervisory authority is at the same time the consolidating supervisor, must draw up a group recovery plan.
(2) In addition to the requirements of section 13, the group recovery plan must satisfy the following requirements: 1. the group recovery plan must contain options for action that can be implemented both at the level of the superordinate undertaking and at the level of subordinate undertakings; 2. the group recovery plan should provide for arrangements ensuring that the options for action to be taken are consistent as between the level of a) the superordinate undertaking, b) a financial holding company, a mixed financial holding company, a mixed holding company, a parent financial holding company in a Member State, an EU parent financial holding company, a mixed parent financial holding company in a Member State, or a mixed EU parent financial holding company, c) the subsidiary undertakings, and d) significant branches; 3. the group recovery plan should include arrangements for possible intragroup support, insofar as an intragroup financial support agreement under section 22 exists.
(3) In accordance with section 17(2) to (4) and section 18, the supervisory authority may require the preparation of an individual recovery plan in respect of a domestic institution that is a subordinate undertaking of an EU parent undertaking in another Member State. Instead of, and under the conditions for, a requirement under the first sentence, the supervisory authority may require the preparation of a recovery plan by a domestic superordinate undertaking that also covers all undertakings subordinate to it.