In this act Article 5 of 12

Article 5 — Reply to a request for assistance

Financial servicesLevel 2ITSMARIn forceOfficial source

1.The requested authority shall reply to a request for assistance in writing by post, fax or secure electronic means. The reply shall be addressed to the contact point designated pursuant to Article 2, unless otherwise specified in the request.

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5(2)

2.The requested authority shall reply to the request for assistance using the form set out in Annex III and shall:

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5(2)(a)

(a)request further clarifications in any form and as soon as possible where it has any doubt in relation to the precise information requested;

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5(2)(b)

(b)take all reasonable steps within the scope of its powers to provide the assistance requested;

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5(2)(c)

(c)execute requests for assistance without delay and in a manner which ensures that any necessary regulatory action proceeds expediently, taking into account the complexity of the request and the necessity to involve third parties or another competent authority.

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5(3)

3.Where the requested authority refuses to act, in full or in part, upon a request for assistance, it shall inform the requesting authority as soon as possible of its decision, verbally or in writing. The requested authority shall also provide a written reply made in accordance with paragraph 1 that indicates which of the exceptions under Article 25(2) of Regulation (EU) No 596/2014 it has relied upon for its refusal.

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