Change in the notified circumstances

(1) Where the circumstances notified under section 70(1) and (2) or section 71(1) change, the securities institution must notify the Bundesanstalt and the Deutsche Bundesbank of these changes at least one month before they take effect. The Bundesanstalt communicates the changes under the first sentence to the competent bodies of the host state party.
(2) A securities institution that has established a branch under section 70 must notify the Bundesanstalt and the Deutsche Bundesbank of changes in the circumstances of the compensation scheme at least one month before they take effect. The Bundesanstalt communicates the changes under the first sentence to the competent bodies of the host state party.
(3) The Federal Ministry of Finance is authorised, by statutory instrument not requiring the consent of the Bundesrat, to determine that subsection (1) and section 70(4) apply correspondingly to the establishment of a branch in a third country, where this is permitted and necessary in the field of the law of establishment on the basis of agreements between the European Union and third countries. The Federal Ministry of Finance may transfer this authorisation, by statutory instrument not requiring the consent of the Bundesrat, to the Bundesanstalt, on condition that the statutory instrument is issued in consultation with the Deutsche Bundesbank. The leading associations of securities institutions must be heard before the statutory instrument is issued.