3.—(1) A notice given in respect of a European authorised institution or quasi-European authorised institution by the relevant supervisory authority in its home State is in accordance with this paragraph if it—
(a)certifies that the institution is a credit institution which is for the time being authorised to act as such an institution by the authority;
(b)contains the information stated in the institution’s notice; and
(c)if the institution intends to establish a branch in the United Kingdom, 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(1)); and
(ii)details of any deposit guarantee scheme which is intended to secure the protection of depositors in the branch.
(2) A notice given in respect of a European subsidiary or quasi-European subsidiary by the relevant supervisory authority in its home State is in accordance with this paragraph if it—
(a)certifies that the institution is a financial institution which is a 90 per cent. subsidiary undertaking of a European institution incorporated in or formed under the law of that State;
(b)certifies that the conditions mentioned in regulation 3(6) 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 United Kingdom, 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).
(3) The Bank shall as soon as practicable send a copy of any notice received by it in accordance with this paragraph, and a note of the date of its receipt, to every other authority which it knows is a connected UK authority.
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).