Electronic Notification or Service of Administrative Acts; Authorisation to Issue Statutory Instruments

(1) Administrative acts issued on the basis of this Act may be given notice of electronically under section 4f of the Financial Services Supervision Act or served electronically under section 4g of the Financial Services Supervision Act. Institutions, and legal and natural persons who have made an application under this Act, are required to use the electronic communication procedure provided by BaFin to retrieve electronically the administrative acts of which notice was given, or that were served, electronically under the first sentence, and to establish electronic access for that purpose, unless BaFin determines another means of transmission.
(2) 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 access to the electronic communication procedure under subsection (1), on its operation and on its use. 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.