PART IIRECOGNITION OF EUROPEAN INSTITUTIONS

Preliminary

Authorised and permitted activities4

1

For the purposes of these Regulations a European authorised institution is authorised to carry on in its home State any listed activity which its authorisation as a credit institution authorises it to carry on.

2

For the purposes of these Regulations a European subsidiary is permitted to carry on in its home State any listed activity which it is lawful for it to carry on, and it is carrying on, in that State.