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New version applies from 18/05/2004 — introduced by Markets in Financial Instruments Directive (MIFID), Commission Directive 2004/69/EC. 147 provisions change. Later versions: 13/04/2005, 29/03/2006, 20/07/2006. Article 29 moves to another heading in this version: compare.

Article 29 - On-the-spot verification of branches established in another Member State

Article 29
On-the-spot verification of branches established in another Member State

1.Host Member States shall provide that, where a credit institution authorised in another Member State carries on its activities through a branch, the competent authorities of the home Member State may, after having first informed the competent authorities of the host Member State, carry out themselves or through the intermediary of persons they appoint for that purpose on-the-spot verification of the information referred to in Article 28.

2.The competent authorities of the home Member State may also, for purposes of the verification of branches, have recourse to one of the other procedures laid down in Article 56(7).

3.This Article 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 verifications of branches established within their territory.

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