(1) Before providing support in accordance with a group financial support agreement, the management body of a group entity authorised in the State that intends to provide financial support shall notify the following in writing:
(a) the competent authority;
(b) the consolidating supervisor, where it is not the competent authority;
(c) the Union competent authority of the group entity receiving the financial support, where it is not the consolidating supervisor;
(d) the European Banking Authority.
(2) The notification referred to in paragraph (1) shall include the reasoned decision of the management body in accordance with Regulation 36 and details of the proposed financial support including a copy of the group financial support agreement.
(3) Where the competent authority is the supervisor of the group entity providing support, it may, within 5 business days of receipt of a complete notification -
(a) either agree to the provision of financial support, or
(b) prohibit or restrict it if
…