Central Contact Person; Authorisation to Issue Statutory Instruments

(1) An institution with its registered office in another Member State that is active in Germany in a form other than a branch must, on request, designate a central contact person in Germany to BaFin.
(2) The Federal Ministry of Finance is authorised to issue, by statutory instrument not requiring the consent of the Bundesrat, more detailed provisions on the tasks of the central contact person and on the requirements for the transmission of documents and the submission of information. The Federal Ministry of Finance may transfer the authorisation, by statutory instrument, to BaFin. The leading associations of the institutions must be heard before the statutory instrument is issued.