(1) Where a mixed financial holding company is subject to equivalent provisions in both these Regulations and the European Communities (Financial Conglomerates) Regulations 2004 (S.I. No. 727 of 2004), in particular in terms of risk-based supervision, the Bank may decide, after consulting the other competent authorities concerned, to apply only the provision of the European Communities (Financial Conglomerates) Regulations 2004 to the mixed financial holding company in question.

(2) Where a mixed financial holding company is subject to equivalent provisions in both these Regulations and the European Communities (Capital Requirements) Regulations 2014 (S.I. No. 158 of 2014) (or Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 [OJ No. L 176, 27.06.2013, p. 1]), in particular in terms of risk-based supervision, the Bank may decide, in agreement with the consolidating supervisor in the banking and investment services sector, to apply only the provision of the Regulations relating to the most important sector as determined in accordance with Regulation 4 of the European Communities (Financial Conglomerates) Regulations 2004.