Intragroup financial support agreement

(1) An intragroup financial support agreement within the meaning of this Act is an agreement on the unilateral or reciprocal provision of intragroup financial support, concluded 1. between the superordinate undertaking and group institutions or financial institutions that are each included in the supervision on a consolidated basis of the superordinate undertaking and of which at least one institution or financial institution is domiciled in another Member State, 2. for the event that, in respect of at least one institution or financial institution party to the agreement, the conditions for early intervention under section 36(1) should arise.
(2) The provision of financial support to an undertaking of the group in respect of which the conditions for early intervention under section 36(1) are satisfied does not presuppose an intragroup financial support agreement, where the support is provided on the basis of a case-by-case decision in accordance with the group's policies and no risk is created for the group as a whole.
(3) The provisions of sections 22 to 35 do not apply to contracts that are not directed at the purpose referred to in subsection (1), point 2, in particular contracts entered into in the ordinary course of business. The power of the supervisory authority under section 46(1), second sentence, in conjunction with the first sentence, of the Banking Act remains unaffected as regards payments that are made neither on the basis of an intragroup financial support agreement under subsection (1) nor satisfy the conditions for the provision of financial support under subsection (2).