1.Where an issuer or a related third party intends to solicit a credit rating of a►M5securitisation instrument◄, it shall appoint at least two credit rating agencies to provide credit ratings independently of each other.
2.The issuer or a related third party as referred to in paragraph 1 shall ensure that the appointed credit rating agencies comply with the following conditions:
they do not belong to the same group of credit rating agencies;
they are not a shareholder or a member of any of the other credit rating agencies;
they do not have the right or the power to exercise voting rights in any of the other credit rating agencies;
they do not have the right or the power to appoint or remove members of the administrative or supervisory board of any of the other credit rating agencies;
none of the members of their administrative or supervisory boards are a member of the administrative or supervisory boards of any of the other credit rating agencies;
they do not exercise, or have the power to exercise, control or a dominant influence over any of the other credit rating agencies.