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3.—(1) The notice which, subject to paragraph 4 below, the UK authority is required to give in respect of a UK authorised institution is a notice which is addressed to the relevant supervisory authority in the member State identified in the institution’s notice under paragraph 2 above and which—
(a)certifies that the institution is a credit institution which is for the time being authorised by the UK authority under the Banking Act(1) or, as the case may be, the Building Societies Act(2);
(b)contains the information stated in the institution’s notice; and
(c)if the institution intends to establish a branch in the member State, contains—
(i)a statement of the amount of the institution’s own funds and the solvency ratio of the institution (calculated in accordance with the Solvency Ratio Directive(3)); and
(ii)details of any deposit guarantee scheme which is intended to secure the protection of depositors in the branch.
(2) The notice which, subject to paragraph 4 below, the UK authority is required to give in respect of a UK subsidiary is a notice which is addressed to the relevant supervisory authority in the member State identified in the institution’s notice under paragraph 2 above and which—
(a)certifies that the institution is a financial institution which is a 90 per cent. subsidiary undertaking of a UK authorised institution;
(b)certifies that the conditions mentioned in regulation 20(5) of these Regulations are fulfilled in relation to the institution;
(c)certifies that the institution’s business is being conducted in a prudent manner;
(d)contains the information stated in the institution’s notice; and
(e)if the institution intends to establish a branch in the member State, contains a statement of the amount of the institution’s own funds and the consolidated solvency ratio of the institution’s parent undertaking (calculated in accordance with the Solvency Ratio Directive).
Council Directive 89/647/EEC (OJ No. L386, 30.12.89, p.14), as amended by Commission Directive 91/31/EEC (OJ No. L17, 23.1.91, p.20).
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