S.L. 330.9 Art. 1Citation and scope.

(1) The title of these regulations is the Recovery and

Resolution Regulations.

(2) The purpose of these regulations is to implement Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EC, Directives 2001/24/EC, 2002/47/EC, 2004/ 25/EC, 2005/56/EC, 2007/36/EC and 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council.

(3) These regulations lay down rules and procedures relating to the recovery and resolution of entities: Provided that when establishing and applying the requirements of these regulations, and when using the different tools at their disposal in relation to an entity, and subject to specific provisions, the Resolution Committee and the Authority shall take account of the nature of its business, its shareholding structure, its legal form, its profile, size and legal status, its interconnectedness to other institutions or to the financial system in general, the scope and the complexity of its activities, its membership of an institutional protection scheme (IPS) that meets the requirements of Article 113(7) of the CRR or other cooperative mutual solidarity systems as referred to in Article 113(6) of that Regulation and whether it exercises any investment services or activities as defined in paragraph (2) of Article 4(1) of Directive 2014/65/EU.

(4) These regulations shall not apply to entities that are also authorised in accordance with Article 14 of Regulation (EU) No 648/ 2012.