Authorisation to issue statutory instruments

(1) The Federal Ministry of Finance is authorised to issue, by statutory instrument not requiring the consent of the Bundesrat, in consultation with the Deutsche Bundesbank, more detailed provisions on 1. the requirements for the design of recovery plans, in particular more detailed provisions on the essential components of the recovery plan referred to in section 13(2), in each case also having regard to particular business models and particular business activities of institutions, 2. the content of simplified requirements for recovery plans under section 19(1), and 3. the requirements under section 20, in particular a) on the application for exemption, b) on the conditions for exemption to be satisfied by the institution and by the institutional protection scheme, and c) on the content of recovery plans that are to be drawn up by the respective institutional protection scheme in the event of an exemption under section 20. The Federal Ministry of Finance may, by statutory instrument, delegate the authorisation to the Federal Financial Supervisory Authority, with the proviso that the statutory instrument is issued in agreement with the Deutsche Bundesbank. The resolution authority must be heard before the statutory instrument is issued.
(2) The Federal Ministry of Finance is authorised to issue, by statutory instrument not requiring the consent of the Bundesrat, in consultation with the Deutsche Bundesbank, more detailed provisions on the criteria referred to in section 19(2) for determining simplified requirements. The Federal Ministry of Finance may, by statutory instrument not requiring the consent of the Bundesrat, delegate the authorisation to the Federal Financial Supervisory Authority, with the proviso that the statutory instrument is issued in agreement with the Deutsche Bundesbank and in consultation with the resolution authority.