(1) Where the Bank has clear and demonstrable grounds for believing that the AIFM is in contravention of the obligations arising from rules in relation to which the Bank has no responsibility for supervising compliance, the Bank shall refer those findings to the competent authorities of the home Member State of the AIFM.
(2) Where the Bank receives a communication pursuant to Article 45(7) of the Directive from the competent authorities of the host Member State of an Irish AIFM or an AIFM whose Member State of reference is the State, it shall take appropriate measures, including, if necessary, requesting additional information from the relevant supervisory authorities in third countries.
(3) If despite the measures taken by the competent authorities of the home Member State of the AIFM or because such measures prove to be inadequate, or because the home Member State of the AIFM fails to act within a reasonable timeframe, the AIFM persists in acting in a manner that is clearly prejudici
…