(5)An entity that is being wound up under national law, following a determination that the entity is failing or is likely to fail and a conclusion by the Board that its resolution is not in the public interest, is ultimately heading towards market exit. In such cases a plan for resolving that entity is no longer needed, irrespective of whether the competent authority has already withdrawn the authorisation of that entity. The same applies with regard to a residual institution under resolution after the transfer of assets, rights, and liabilities in the context of a transfer strategy. It is therefore appropriate to specify that in such situations the adoption of resolution plans is not required.