Course of action where the resolution authority is the authority responsible for group resolution

(1) Where the resolution authority is the authority responsible for group resolution, and receives a notification corresponding to section 161 from a resolution authority of another Member State, it assesses, after consulting the other members of the resolution college concerned, the consequences that the notified resolution actions, the intended application for the opening of insolvency proceedings, or the other notified insolvency measures of the resolution authorities of other Member States could have on the group and on undertakings of the group. It assesses, in particular, whether the resolution actions or insolvency measures notified to it indicate that the conditions for resolution are likely to be satisfied in respect of an institution or undertaking of the group in a Member State other than that of the notifying resolution authority.
(2) Where the resolution authority, after consulting the other members of the resolution college, reaches the assessment that the measures notified to it do not indicate that the conditions of section 62 or section 64 are likely to be satisfied in respect of an institution or undertaking of the group in a further Member State, it informs the notifying resolution authority of this.
(3) Where the resolution authority, after consulting the other members of the resolution college, reaches the assessment that the notified resolution actions and insolvency measures indicate that the conditions of section 62 or section 64 are likely to be satisfied in respect of an institution or undertaking of the group in another Member State, it submits to the resolution college, within 24 hours of receiving the notification corresponding to section 161, a proposal for a group resolution scheme. The 24-hour period may be extended with the consent of the notifying resolution authority.