(1) Institutions, financial holding companies and mixed financial holding companies shall ensure that members of their management body are at all times of sufficiently good repute and possess sufficient knowledge, skills and experience to perform their duties.
(2) Institutions, financial holding companies and mixed financial holding companies shall ensure that the members of their management body shall, in particular, fulfil the requirements set out in paragraphs (3) to (7).
(3) Institutions, financial holding companies and mixed financial holding companies shall ensure that all members of their management bodies shall commit sufficient time to perform their functions in the institution, financial holding company or mixed financial holding company, as the case may be.
(4) Subject to paragraph (7), institutions, financial holding companies and mixed financial holding companies shall ensure that the number of directorships which may be held by a member of the management body in that inst
…