(1) The Bank shall cooperate with and render assistance to competent authorities in other Member States whenever necessary for the purpose of performing the functions of competent authorities under the relevant community acts (in particular, the exchange of information and cooperation in investigation activities).
(2) Subject to paragraph (3), the Bank shall, on receipt of a request for information from a competent authority for the purpose referred to in paragraph (1) -
(a) immediately supply the information to that competent authority,
(b) if necessary, immediately take the measures necessary to collect the required information, or
(c) if unable to supply the requested information immediately, notify that competent authority of the reasons.
(3) The Bank may refuse to supply information requested by a competent authority for the purpose referred to in paragraph (1) where -
(a) communication may adversely affect the sovereignty, security or public policy of the State,
(b) judicial