Member States shall require credit institutions to obtain authorisation before commencing their activities. They shall lay down the requirements for such authorisation subject to Articles 5 to 9, and notify them to both the Commission and the Banking Advisory Committee.
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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 4 moves to another heading in this version: compare.