(1) Without prejudice to the generality of regulation 119, the Authority must co-operate with the relevant host state competent authority or home state competent authority, as the case may be, in relation to the exercise of passport rights by any authorised payment institution or EEA authorised payment institution.
(2) The Authority must, in particular -
(a) notify the host state competent authority whenever it intends to carry out an on-site inspection in the host state competent authority's territory; and
(b) provide the host state competent authority or home state competent authority, as the case may be -
(i) on request, with all relevant information; and
(ii) on its own initiative, with all essential information,
relating to the exercise of passport rights by an authorised payment institution or EEA authorised payment institution, including where there is an infringement or suspected infringement of these Regulations or of the provisions of the payment services directive by an