(1) An Authorised Person must have a documented contingency funding plan to ensure that, for each of the tested scenarios, the Authorised Person has sufficient liquid financial resources to meet its liabilities as they fall due.
(2) The contingency funding plan referred to in (1) must:
(a) list the events or circumstances that will lead the Authorised Person to put any part of the plan into action;
(b) set out the extent to which the plan relies upon:
(i) asset sales, using assets as Collateral on secured funding (including repurchase agreements), securitising its assets or otherwise reducing its assets;
(ii) modifying the structure of, or increasing, its liabilities; and
(iii) the use of committed facilities; and
(c) contain administrative policies and procedures that will enable the Authorised Person to manage the implementation of the plan, including:
(i) the responsibilities of senior management;
(ii) the names, location and contact details of members of the team responsible for implementing the plan;
(iii) the details of who is responsible for contact with the Authorised Person's head office (if appropriate), analysts, investors, external Auditors, media, significant customers, regulators and others; and
(iv) the mechanisms that enable senior management and the Governing Body to receive relevant, accurate, comprehensive, timely and reliable management information.