Article 159

Path:
Capital Requirements Directive 4 (CRD4) > TITLE XI > CHAPTER 1 > Article 159
Title:
Article 159
Description:
On-the-spot checks
Main content:
1. Host Member States shall provide that, where an institution authorised in another Member State carries out its activities through a branch, the competent authorities of the home Member State may, after having informed the competent authorities of the host Member State, carry out themselves or through an intermediary on-the-spot checks of the information referred to in Article 50.
 
2. The competent authorities of the home Member State may also, for the purposes of such on-the-spot checking of branches, have recourse to one of the other procedures set out in Article 118.
 
3. Paragraphs 1 and 2 shall not affect the right of the competent authorities of the host Member State to carry out, in the discharge of their responsibilities under this Directive, on- the-spot checks of branches established within their territory.