1. Member States shall require credit institutions to obtain authorisation before commencing their activities. Without prejudice to Articles 10 to 14, they shall lay down the requirements for such authorisation and notify EBA.
2. EBA shall develop draft regulatory technical standards to specify:
(a) the information to be provided to the competent authorities in the application for the authorisation of credit institutions, including the programme of operations, structural organisation and governance arrangements provided for in Article 10;
(b) the requirements applicable to shareholders and members with qualifying holdings, or, where there are no qualifying holdings, to the 20 largest shareholders or members, pursuant to Article 14; and
(c) obstacles which may prevent effective exercise of the supervisory functions of the competent authority, as referred to in Article 14.
Power is delegated to the Commission to adopt the regulatory technical standards referred to in points (a), (b) and
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