Recital 2

(2)In cases of participations in institutions or financial institutions managed by an undertaking included in the consolidation together with one or more undertakings not included in the consolidation, where proportional consolidation is required pursuant to Article 18(4) of Regulation (EU) No 575/2013, the unanimous consent of those undertakings concerning the decisions about the institution’s or financial institution’s relevant activities should be required for the application of the method of prudential consolidation set out in that provision in line with the definition of joint arrangement specified in the international accounting standards as applicable under Regulation (EC) No 1606/2002 of the European Parliament and of the Council ³ .