(1) The resolution authority may refuse to recognise or to enforce third-country resolution proceedings pursuant to Article 94(2) of the Bank Recovery and Resolution Directive where it considers that -
(a) recognition or enforcement of the third-country resolution proceedings would have an adverse effect on the financial stability of the State or another Member State,
(b) independent resolution action under Regulation 160 in relation to a Union branch is necessary to achieve one or more of the resolution objectives,
(c) creditors, including in particular depositors located or payable in the State, would not receive the same treatment as third-country creditors and depositors with similar legal rights under the third-country resolution proceedings,
(d) recognition or enforcement of the third-country resolution proceedings would have material fiscal implications for the State, or
(e) the effects of such recognition or enforcement would be contrary to national law (including under any ena
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