26.—(1) This regulation applies where—
(a)a credit institution or investment firm does not meet a requirement of the banking consolidation directive, and
(b)by adopting a relevant measure, the Authority requires the credit institution or investment firm to take the necessary action or steps at an early stage to address the situation.
(2) A measure is relevant if its adoption—
(a)obliges the credit institution or investment firm to hold own funds in excess of the minimum level laid down in Article 75 of the banking consolidation directive;
(b)reinforces the arrangements, processes, mechanisms and strategies implemented to comply with Articles 22 and 123 of the banking consolidation directive;
(c)requires the credit institution or investment firm to apply a specific provisioning policy or treatment of assets in terms of own funds requirements;
(d)restricts or limits the business, operations or network of the credit institution or investment firm; or
(e)requires the reduction of the risk inherent in the credit institution’s or investment firm’s activities, products and systems.
(3) In such circumstances, sections 348, 349 and 352 of the Act apply to information about the adoption of the relevant measure—
(a)in the same way as they apply in relation to confidential information within the meaning of section 348(2) of the Act (subject to paragraph (4) of that section), and
(b)as if the Authority were a recipient of such information.