Holders of Significant Holdings; Authorisation to Issue Statutory Instruments

(1) The holder of a significant holding in an institution must meet the requirements to be imposed in the interest of the sound and prudent management of the institution. Section 2c of the Banking Act applies correspondingly.
(2) The rights of BaFin and of the Deutsche Bundesbank to information, production of documents and examination under section 19(1), (5) and (6) apply, correspondingly to section 44b of the Banking Act, as against holders of significant holdings, the members of their governing bodies and their employees.
(3) The Federal Ministry of Finance is authorised to issue, by statutory instrument not requiring the consent of the Bundesrat, in agreement with the Deutsche Bundesbank, more detailed provisions on the material documents and facts which the prospective acquirer of a significant holding must state in the notification under subsection (1), second sentence, in conjunction with section 2c(1), second sentence of the Banking Act, insofar as this information is necessary for BaFin to perform its tasks. The Federal Ministry of Finance may transfer the authorisation, by statutory instrument, to BaFin, on condition that the statutory instrument is issued in agreement with the Deutsche Bundesbank. The leading associations of the institutions must be heard before the statutory instrument is issued.