General powers of the resolution authority; on-site inspections

(1) Where the resolution conditions are satisfied, the resolution authority may 1. direct the institution or group entity, and the undertakings referred to in section 45(1), first sentence, to provide all information necessary to decide on and prepare a resolution action, including updates and supplements to the particulars supplied for resolution plans; 2. require the institution or group entity to carry out its own inspections, or to permit and support the conduct of on-site inspections by the resolution authority or by persons instructed by it, the costs of the inspections being borne by the institution or group entity; 3. change the maturity date of debt instruments and other bail-inable liabilities issued by an institution or group entity, or the amount of interest payable under the corresponding debt instruments and other bail-inable liabilities, or the date on which the interest is payable, in particular by temporarily suspending payments; 4. cancel rights to acquire further shares or other instruments of ownership in the institution or group entity; 5. remove or replace the managers, the members of the supervisory or administrative body, and the members of senior management below board level, of an institution or group entity under resolution.
(2) To prevent imminent dangers to public safety and order, the officials of the supervisory authority and the resolution authority, or persons instructed by the supervisory authority or the resolution authority, are authorised to enter and inspect business premises for an on-site inspection under subsection (1), point 2, including outside normal business hours. The officials of the supervisory authority and the resolution authority, or persons instructed by either authority, may search the business premises and make copies of, and extracts from, books and records, insofar as this is necessary and appropriate for carrying out the inspection. The fundamental right under Article 13 of the Basic Law is restricted by the first and second sentences.
(3) Searches of business premises may be ordered only by a judge, or, where delay would pose a risk, by the resolution authority or the supervisory authority. The local court in whose district the premises are located has jurisdiction to issue the judicial order. An appeal lies against the judicial decision; sections 306 to 310 and 311a of the Code of Criminal Procedure apply correspondingly. Section 98(2), first, second and fifth sentences, of the Code of Criminal Procedure applies correspondingly to searches carried out without a judicial order; the local court in whose district the search of the business premises took place has jurisdiction.
(4) A record must be made of the search. It must state the responsible office, the reason, time and place of the search, and its outcome, and, where no judicial order was issued, also the facts establishing that delay would have posed a risk.