(1) If an administrative or judicial authority of the State makes a decision with respect to the winding up of an authorised institution, the authority shall, without delay, notify the Bank of the decision. The decision is to be communicated by any available means and, if possible before it takes effect, but if not, then immediately afterwards.
(2) As soon as practicable after being notified of such a decision, the Bank shall communicate the decision by any available means to the competent authority of each of the other Member States in which the institution has established a branch. The decision must be accompanied by a statement setting out the practical effects that the decision may have.
(3) Nothing in this Regulation limits the operation of any other law of the State that requires decisions of administrative or judicial authorities of the State to be communicated to the Bank or to the competent authorities of other Members States.