PART 3EXERCISE OF SUPERVISION
The Authority’s duties as EEA consolidated supervisor or national consolidated supervisor14
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.