s 137K Rules about resolution packs: duty to consult
(1) Before either regulator prepares a draft of any general rules that require a relevant person (or a relevant person of a specified description) to prepare a resolution pack , the regulator must consult the Treasury . (1A) The FCA must also consult the Bank of England. (2) “Relevant person” has the same meaning as in section 137J(2). (3) A “ resolution pack ” is a document containing information within subsection (4) or (5). (4) Information is within this subsection if it relates to action to be taken in the event of— (a) circumstances arising in which it is likely that the business (or any part of the business) of an authorised person will fail, or (b) the failure of the business (or any part of the business) of an authorised person. (5) Information is within this subsection if it would facilitate anything falling to be done by any person in consequence of that failure. (6) An example of information within subsection (5) is information that, in the event of that failure, would facilitate— (a) planning by the Treasury in relation to the possible exercise of any of its powers under Part 1 of the Banking Act 2009, or (b) planning by the Bank of England in relation to the possible exercise of any of its powers under Part 1, 2 or 3 of that Act. (7) In this section “authorised person”, in relation to the PRA, means PRA-authorised person.