Exemptions; power to issue a statutory instrument

(1) The Federal Ministry of Finance may, after consulting the Deutsche Bundesbank, issue a statutory instrument, not requiring the consent of the Bundesrat, that 1. exempts all institutions, or types or groups of institutions, from the duty to notify particular loans and facts under section 14(1) and section 24(1), points 1 to 4 and 6, and (1a), exempts types or groups of institutions from the duty to submit financial information under section 25, or from the duty under section 26(1), second sentence, to explain the annual financial statements in an annex, and exempts managers of an institution from the duty to notify holdings under section 24(3), point 2, where the particulars are of no relevance for supervision; 2. exempts types or groups of institutions from compliance with section 26, where the particular nature of the business operations justifies this; 3. exempts all institutions that are not CRR institutions, or types or groups of institutions that are not CRR institutions, from duties to notify particular loans and facts under Regulation (EU) No 575/2013. The Federal Ministry of Finance may transfer this power, by statutory instrument, to the Federal Institute, on condition that the statutory instrument is issued in consultation with the Deutsche Bundesbank.
(2) The Federal Institute may exempt individual institutions from obligations under section 13(1) and (2), section 15(1), first sentence, points 6 to 11, and (2), section 24(1), points 1 to 4, sections 25, 26, and 29(2), third sentence, and from the obligation under section 15(1), first sentence, to grant loans only on market terms, where this is appropriate for particular reasons, in particular because of the type or scale of the business conducted. It may, further, exempt undertakings that provide exclusively financial services under section 1(1a), second sentence, point 9 or point 10, from the obligations under section 25a(1), third sentence, point 3, letter c, where this is appropriate for particular reasons, in particular because of the institution's size. The exemption may be granted on the institution's application or of the Federal Institute's own motion.
(3) A parent undertaking under section 10a must notify the Federal Institute and the Deutsche Bundesbank of its intention to rely on Article 19(1) of Regulation (EU) No 575/2013, as amended from time to time, for an undertaking; it must, further, notify once a year, in a collective notification, which undertakings it has excluded, under Article 19(1) of Regulation (EU) No 575/2013 as amended from time to time, from consolidation under section 12a(1), first sentence, section 25(2), and Articles 11 to 18 of Regulation (EU) No 575/2013 as amended from time to time.
(4) (repealed)
(5) (repealed)
(6) (repealed)