(1) This Subdivision is to be applied to credit institutions within the meaning of section 1 (1) of the Banking Act, insofar as they are not precluded from such application pursuant to section 2 (1), (4) or (5) of said Act, as well as to branch offices of enterprises having their seat in a state other than a member state of the European Community and also other than a state party to the Agreement creating the European Economic Area, insofar as the branch office is considered a credit institution pursuant to section 53 (1) of the Banking Act. Section 340l (2) and (3) moreover is to be applied to branch offices within the meaning of section 53b (1) sentence 1 and (7) of the Banking Act, also read in conjunction with a statutory instrument pursuant to section 53c number 1 of said Act, should these branch offices conduct banking business within the meaning of section 1 (1) sentence 2 nos. 1 to 5 and 7 to 12 of said Act. Additional requirements based on provisions that exist due to the legal form or that govern branch offices remain unaffected.
(2) This Subdivision applies, as a subsidiary source of law, to enterprises of the nature designated in section 2 (1) nos. 4 and 5 of the Banking Act insofar as they conduct banking business that does not form part of their characteristic business.
(3) This Subdivision is not to be applied to housing enterprises with a savings facility.
(4) This Subdivision also is to be applied to financial services institutions within the meaning of section 1 (1a) of the Banking Act insofar as they are not precluded from such application pursuant to section 2 (6) or (10) of said Act, as well as to branch offices of enterprises having their seat in a state other than a member state of the European Community and also other than a state party to the Agreement creating the European Economic Area, insofar as the branch office is considered a financial services institution pursuant to section 53 (1) of the Banking Act. Section 340c (1) is not to be applied to financial services institutions and credit institutions insofar as the latter are lead brokers within the meaning of section 27 (1) sentence 1 of the Stock Exchange Act (Börsengesetz) and are not CRR credit institutions within the meaning of section 1 (3d) sentence 1 of the Banking Act. Additional requirements based on provisions that exist due to the legal form or that govern branch offices remain unaffected.
(4a) This Subdivision is to be applied also to securities institutions within the meaning of section 2 (1) of the Securities Institutions Act insofar as they are not exempted from such application pursuant to section 3 of said Act. Section 340c (1) is not to be applied to securities institutions where they are book-running brokers within the meaning of section 27 (1) sentence 1 of the Stock Exchange Act (Börsengesetz). Additional requirements based on regulations that exist due to the legal form remain unaffected.
(5) This Subdivision also is to be applied to institutions within the meaning of section 1 (3) of the Payment Services Oversight Act. Additional requirements based on provisions that exist due to the legal form remain unaffected.