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In this act Article 5 of 12

Article 5 — Reply to a request for cooperation or exchange of information

Financial servicesLevel 2ITSMiCAIn forceOfficial source

5(1)

1.The requested authority shall reply to a request for cooperation or exchange of information in writing, by post or by electronic means. The reply shall be addressed to the contact point designated pursuant to Article 2, unless otherwise specified in the request. Where the requested authority requires additional information in relation to the request for cooperation or exchange of information, it shall request further clarifications promptly by any means.

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5(2)

2.The requested authority shall reply to the request for cooperation or exchange of information using the form set out in Annex III and shall:

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5(2)(a)
a)take all reasonable steps within the scope of its powers to provide the requested information or assistance;
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5(2)(b)
b)act without undue delay, 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 cooperation or exchange of information, it shall inform the requesting authority as soon as possible of its decision in writing, either by post or by electronic means, indicating which of the grounds for refusal set out in Article 95(2) of Regulation (EU) 2023/1114 it has relied upon.

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