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14.—(1) Where an emergency situation arises within a banking group which potentially jeopardises the stability of the financial system in any EEA State where an entity of a group has been authorised, the Authority must notify as soon as practicable—
(a)the central bank and other bodies with a similar function in their capacity as monetary authorities; and
(b)the department of the central government administration responsible for legislation on the supervision of credit institutions, financial institutions, investment services and insurance companies;
of the EEA State in which the entity has been authorised.
(2) The Authority, in notifying any body under paragraph (1), may share any information which it is not prevented from disclosing.
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