Authorisation procedure where the superordinate undertaking is domiciled in Germany

(1) Where the superordinate undertaking is domiciled in Germany, it must submit the application for authorisation of the planned conclusion of the intragroup financial support agreement to the supervisory authority. The application must be accompanied by the planned agreement.
(2) The supervisory authority forwards the application without delay to the supervisory authorities responsible for the subordinate undertakings in other Member States that intend to become parties to the intragroup financial support agreement.
(3) The supervisory authority and the supervisory authorities concerned in the other Member States should decide by joint decision, within four months of receipt of a complete application under subsection (1), whether the terms of the planned agreement satisfy the requirements of section 23(5) or of the provisions adopted in other Member States implementing Articles 19 and 23 of Directive 2014/59/EU. In taking the decision, the potential effects of the implementation of the agreement in all the Member States in which the group operates, including the tax consequences, must be taken into account. On the application of one of the supervisory authorities responsible for the joint decision, the European Banking Authority may assist the supervisory authorities in reaching agreement under Article 31 of Regulation (EU) No 1093/2010. The joint decision must be reasoned in writing.
(4) Where one of the supervisory authorities responsible for the joint decision under subsection (3) has, before a joint decision is reached and before the end of the four-month period under subsection (3), first sentence, requested the assistance of the European Banking Authority under Article 19 of Regulation (EU) No 1093/2010, the supervisory authority decides in accordance with the decision of the European Banking Authority.
(5) The supervisory authority decides having regard to the views and reservations put forward by the supervisory authorities concerned in the other Member States in the course of the procedure under subsection (3), where the supervisory authorities responsible for the joint decision have, by the end of the four-month period under subsection (3), first sentence, neither reached a joint decision nor requested the assistance of the European Banking Authority under Article 19 of Regulation (EU) No 1093/2010. The supervisory authority communicates its decision to the supervisory authorities concerned in the other Member States.
(6) The supervisory authority grants the application of the superordinate undertaking for authorisation to conclude the agreement where, after conducting the authorisation procedure under subsections (3) to (5), it is decided that the intragroup financial support agreement satisfies the requirements of section 23(5). Where the conditions for authorisation are not satisfied, the supervisory authority rejects the application. The written reasons for a joint decision under subsection (3), fourth sentence, must be transmitted to the superordinate undertaking.