(59)In order to be effective, supervision on a consolidated basis must be applied to all banking groups, including those the parent undertakings of which are not credit institutions. The competent authorities must hold the necessary legal instruments to be able to exercise such supervision.
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New version applies from 13/04/2005 — introduced by Directive 2005/1/EC.
88 provisions change.
Later versions: 29/03/2006, 20/07/2006.
Recital 59 changes in this version: compare with the current text.