1.The competent authority shall, before granting authorisation to a credit institution, consult the competent authorities of the other Member State involved in the following cases:
(a)the credit institution concerned is a subsidiary of a credit institution authorised in another Member State;
(b)the credit institution concerned is a subsidiary of the parent undertaking of a credit institution authorised in another Member State; or
(c)the credit institution concerned is controlled by the same persons, whether natural or legal, as control a credit institution authorised in another Member State.
2.The competent authority shall, before granting authorisation to a credit institution, consult the competent authority of a Member State involved, responsible for the supervision of insurance undertakings or investment firms in the following cases:
(a)the credit institution concerned is a subsidiary of an insurance undertaking or investment firm authorised in the Community;
(b)the credit institution concerned is a subsidiary of the parent undertaking of an insurance undertaking or investment firm authorised in the Community; or
(c)the credit institution concerned is controlled by the same person, whether natural or legal, as controls an insurance undertaking or investment firm authorised in the Community.
3.The relevant competent authorities referred to in paragraphs 1 and 2 shall in particular consult each other when assessing the suitability of the shareholders and the reputation and experience of directors involved in the management of another entity of the same group. They shall exchange any information regarding the suitability of shareholders and the reputation and experience of directors which is of relevance for the granting of an authorisation as well as for the ongoing assessment of compliance with operating conditions.