Authorisation procedure where the superordinate undertaking is domiciled in another Member State

(1) Where the competent supervisory authority domiciled in a Member State forwards to the supervisory authority the application of a superordinate undertaking domiciled in another Member State to authorise an intragroup financial support agreement to which a subordinate undertaking supervised by the supervisory authority intends to become a party, the supervisory authority must, within four months, work towards a joint decision of all the supervisory authorities concerned on whether the intragroup financial support agreement satisfies the requirements of section 23(5). In doing so, the supervisory authority must take into account the potential effects of the implementation of the agreement in all the Member States in which the group operates, including the tax consequences.
(2) The supervisory authority may, before the end of the four-month period, request the assistance of the European Banking Authority under Article 19 of Regulation (EU) No 1093/2010.