Cross-border information and inspections

(1) Legal provisions that preclude the transmission of data do not apply to the transmission of data between an institution, a capital management company, a financial undertaking, a financial holding company, a mixed financial holding company, a provider of ancillary services, an e-money institution within the meaning of the Payment Services Supervision Act, a payment institution within the meaning of the Payment Services Supervision Act, or an undertaking with its registered office abroad that directly or indirectly holds at least 20 percent of the capital shares or voting rights in the undertaking, is a parent undertaking, or can exercise a controlling influence, or between a mixed holding company and its subsidiary undertakings with their registered office abroad, where the transmission of the data is necessary to fulfil supervisory provisions under Directive 2013/36/EU or Directive 2002/87/EC concerning the undertaking with its registered office abroad. The supervisory authority may prohibit an institution from transmitting data to a third country.
(2) On the request of a body responsible for the supervision of an undertaking with its registered office in another state of the European Economic Area, the supervisory authority must verify the accuracy of the data transmitted by an undertaking within the meaning of subsection (1), first sentence, to the supervisory body under Directive 2013/36/EU, Regulation (EU) No 575/2013, or Directive 2002/87/EC, or permit the requesting body, an auditor, or an expert to verify this data; the supervisory authority may, in the exercise of its duty-bound discretion, proceed correspondingly towards supervisory bodies in third countries, where reciprocity is assured. Section 5(2) of the Administrative Procedure Act, on the limits of administrative assistance, applies correspondingly. The undertakings within the meaning of subsection (1), first sentence, must tolerate the inspection.
(3) The supervisory authority may require information from CRR credit institutions, capital management companies, financial holding companies, or mixed financial holding companies with their registered office in another state of the European Economic Area, that facilitates the supervision of institutions that are subsidiary undertakings of these undertakings and are not included in supervision on a consolidated basis by the competent bodies of the other state for reasons corresponding to Article 19(1) or (2), letter b, of Regulation (EU) No 575/2013.
(4) to (6) (repealed)