S.L. 330.9 Art. 31Resolution objectives.

(1) When applying the resolution tools and exercising the resolution powers, the Resolution Committee shall have regard to the resolution objectives, and choose the tools and powers that best achieve the objectives that are relevant in the circumstances of the case.

(2) The resolution objectives referred to in sub-regulation (1) are:

(a) to ensure the continuity of critical functions;

(b) to avoid a significant adverse effect on the financial system, in particular by preventing contagion, including to market infrastructures, and by maintaining market discipline;

(c) to protect public funds by minimising reliance on extraordinary public financial support;

(d) to protect depositors covered by Directive 2014/49/EU and investors covered by Directive 97/9/EC;

(e) to protect client funds and client assets:

Provided that, when pursuing the above objectives, the Resolution Committee shall seek to minimise the cost of resolution and avoid destruction of value unless necessary to achieve the resolution objectives.

(3) Subject to different provisions of these regulations, the resolution objectives are of equal significance, and the Resolution Committee shall balance them as appropriate to the nature and circumstances of each case.