(15)It is appropriate, however to extend mutual recognition to the activities listed in Annex I when they are carried on by financial institutions which are subsidiaries of credit institutions, provided that such subsidiaries are covered by the consolidated supervision of their parent undertakings and meet certain strict conditions.
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New version applies from 20/07/2006 — introduced by Directive 2006/48/EC (CRD).
144 provisions change.
Recital 15 is deleted from 20/07/2006.