1.The competent authority may require the SIPS operator to appoint an independent expert in accordance with Article 4 to conduct an independent review, if it considers that it is necessary to achieve the objectives set out in Regulation (EU) No 795/2014 (ECB/2014/28).
2.The competent authority may require an independent review to take place on a one off basis or, in exceptional cases, at periodic intervals within a pre-defined scope, linked to operational, security, risk management, business or legal grounds. If the competent authority requires an independent review at periodic intervals, then it shall specify and justify the frequency of those intervals and the scope of such independent review as well as its end date.
3.The scope of the independent review may cover one or more matters, chosen by the competent authority upon due justification. The independent expert shall have the power to collect any information from the SIPS that it deems necessary to provide a comprehensive understanding of the matter or matters within the scope of the independent review.