Special provisions for the procedure under section 2c of the Banking Act

(1) Where a transfer of shares under section 107 results in the acquisition of, or an increase in, a significant holding, the supervisory authority, by way of derogation from section 2c of the Banking Act, carries out the assessment required under that provision sufficiently promptly that it does not delay the application of the resolution tool concerned, and does not prevent the achievement of the resolution objectives pursued by the resolution action. The supervisory authority receives from the resolution authority all available documents and valuations for the assessment, and may dispense with the submission of further documents by the acquirer. It reaches a positive assessment where no obvious grounds exist for prohibiting the transfer.
(2) The supervisory authority's assessment period under section 2c of the Banking Act begins on receipt of the documents and valuations from the resolution authority, and ends when the transfer becomes effective under section 114.
(3) The supervisory authority's powers under section 2c(2) of the Banking Act remain unaffected. Where the supervisory authority prohibits the exercise of voting rights, the resolution authority may require the recipient legal entity to dispose of the holding transferred under section 107, within a disposal period set by the resolution authority, having regard to prevailing market conditions.