Maintaining the refinancing register for third parties

(1) Where the refinancing undertaking is neither a credit institution nor an entity named in section 2(1), point 1, 2, or 3a, the items of the refinancing undertaking named in section 22a(1), first sentence, to whose transfer an undertaking within the meaning of section 1(24), first sentence, points 1 to 6, has a claim, may be entered in a refinancing register maintained by a domestic credit institution or by Kreditanstalt für Wiederaufbau. Where the refinancing register also contains items whose transfer is owed by the undertaking maintaining the register or by another undertaking, a separate division must be formed within that same refinancing register for each party obliged to transfer, and within that a sub-division for each refinancing transaction.
(2) Where the refinancing undertaking is a credit institution that is not a Pfandbrief bank, and for which maintaining its own refinancing register would, given the nature and scale of its business operations, constitute an unreasonable burden, the Federal Institute should, on the refinancing undertaking's application, consent to the register being maintained by another credit institution. The Federal Institute's consent is deemed granted where it is not refused within one month of the application being made. Where the grounds for maintenance by a third party subsequently cease to apply, the Federal Institute may order that maintenance of the register be resumed, uniformly, by the refinancing undertaking within an appropriate period; section 22k(1a), third sentence, applies correspondingly.
(3) Entries made for other credit institutions without the Federal Institute's consent under subsection (2) are ineffective.
(4) Section 22a(2) and (3), including in conjunction with subsection (4), applies correspondingly.