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Commission Implementing Regulation (EU) 2017/461Dangos y teitl llawn
Commission Implementing Regulation (EU) 2017/461 of 16 March 2017 laying down implementing technical standards with regard to common procedures, forms and templates for the consultation process between the relevant competent authorities for proposed acquisitions of qualifying holdings in credit institutions as referred to in Article 24 of Directive 2013/36/EU of the European Parliament and of the Council (Text with EEA relevance)
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- Rheoliadau yn deillio o’r UE
- 2017 No. 461
- Article 5
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Changes over time for: Article 5
Changes to legislation:
Commission Implementing Regulation (EU) 2017/461, Article 5 is up to date with all changes known to be in force on or before 06 June 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
EUR 2017 No. 461 may be subject to amendment by EU Exit Instruments made by both the Prudential Regulation Authority and the Financial Conduct Authority under powers set out in The Financial Regulators' Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1115), regs. 2, 3, Sch. Pt. 4. These amendments are not currently available on legislation.gov.uk. Details of relevant amending instruments can be found on their website/s.
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Changes and effects yet to be applied to Article 5:
- Regulation revoked by 2023 c. 29 Sch. 1 Pt. 3
Article 5U.K.Response from a requested authority
1.A response to a consultation notice shall be made in writing, using the format set out in Annex II, by post, facsimile or secure electronic means. It shall be addressed to the designated contact point of the requesting authority referred to in Article 2, unless otherwise specified by the requesting authority.
2.The requested authority shall provide the requesting authority as soon as possible and no later than 20 working days after receipt of the consultation notice with:
(a)all relevant information requested in the consultation notice, including any views or reservations in relation to the acquisition by the proposed acquirer;
(b)all essential information, on its own initiative.
3.Where the requested authority is unable to meet the time limit set out in paragraph 2, it shall immediately inform the requesting authority of the justifiable reasons that necessitate any such delay and provide an estimated date of response. The requested authority shall provide regular feedback on the progress made either of its own initiative or upon the request of the requesting authority.
4.Where, due to justified cases of necessity, the requested authority is not able to provide all the required information in time for meeting the time limit set out in paragraph 2, it shall:
(a)provide the information which is already available within the time limit set out in paragraph 2, using the format set out in Annex II;
(b)provide any missing information as soon as it becomes available and in a manner, including verbally, which ensures that any necessary action may proceed expediently.
5.If the requested information is provided verbally pursuant to point (b) of paragraph 4, it shall subsequently be confirmed in writing in accordance with paragraph 1, unless the competent authorities involved agree otherwise.
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