(1) The appointment of a liquidator in respect of an authorised institution has the effect of revoking the institution's authorisation.
(2) Whenever the authorisation of a institution is revoked by the operation of paragraph (1), the Bank shall notify the revocation to the competent authority of each Member State in which the institution has a branch.
(3) Revocation of the authorisation of a institution by the operation of paragraph (1) does not prevent the Bank from exercising any power that it has under a relevant applicable enactment to impose duties on the institution after the revocation of the authorisation and to take such measures as are necessary to ensure that any such duties are performed.
(4) Revocation of the authorisation of a institution by the operation of paragraph (1) does not prevent the liquidator from carrying on such of the institution's activities as are necessary or appropriate for winding up the institution. However, any such activities may be carried on only w
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