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AI Summary of Article 33 Operation of a bridge undertaking

Version status: Entered into force | Document consolidation status: No known changes
Version date: 28 January 2025 - onwards
Version 2 of 2

Article 33 Operation of a bridge undertaking

1. Member States shall ensure that the operation of a bridge undertaking respects the following requirements:

(a) the resolution authority has approved the bridge undertaking’s constitutional documents;

(b) subject to the bridge undertaking’s ownership structure, the resolution authority either appoints or approves the bridge undertaking’s administrative, management or supervisory body;

(c) the resolution authority approves the remuneration of the members of the administrative, management or supervisory body and determines their responsibilities;

(d) the resolution authority approves the strategy and risk profile of the bridge undertaking;

(e) the bridge undertaking is authorised in accordance with Directive 2009/138/EC and has the necessary authorisation under the applicable national law to carry out the activities or services that it acquires by virtue of a transfer made pursuant to Article 42 of this Directive;