Paragraph 3: Provisions relating to preventive group resolution plans

I. – Where the College of Resolution is the resolution authority on a consolidated basis, it shall establish or update, after consultation with the relevant competent authorities of the Member States, including those responsible for significant branches, the group resolution contingency plans, where appropriate jointly with the resolution authorities of the subsidiaries concerned and after consultation, where appropriate, with the resolution authorities of significant branches established in a Member State….

I. – When a matter is referred to it by the consolidated resolution authority of another Member State of the European Union as the resolution authority of a subsidiary belonging to a group for the purposes of drawing up or updating a preventive group resolution plan, the collège de résolution shall provide all the cooperation required. The resolution college shall give its opinion within four months of the transmission of…